RE: Shard of glass...10 May 2024 15:25
The BHP/AAL tussle could find imitators/competitors as the industry consolidates and is sometimes a sign of a 'top' in a sector - aka 'go mining on Wall Street' - you can buy production in a couple of years, whereas a mine can take decades.
I don't follow GLEN closely enough to know whether it is seriously interested in competing for AAL (or just wants to push BHP into paying more) and it seems to be a moot point whether it could actually afford to : it's pretty tied up at the moment with the 'bundling and unbundling' of Teck.
There also seems to be some suggestion that Ivan (at 9+%, GLEN's largest shareholder, just ahead of Qatar) may not be fully behind the 'coal repositioning' strategy ('coking yes/thermal no' , AIUI), which is -or may be- another wrinkle...
If GLEN did want to mount a bid, it could bolster its finances with an outright sale of its ZIOC stake.....OTOH, if it found itself on the RECEIVING end of a bid, it could be expected to point to its 'hidden value' in Zioc (and presumably others)...
who knows how this will ultimately play out?
Which only reinforces my contention that nothing we say on these boards ultimately matters, but perhaps how we conduct ourselves does.
GLA