Proof that China always thinks ahead, the bid by Baosteel for Aquila Resources (ASX: AQA) is a classic straw hats in winter play

Proof that China always thinks ahead, the bid by Baosteel for Aquila Resources (ASX: AQA) is a classic straw hats in winter play. The parties are offering $3.40 cash per share in an off-market offer, representing a 38.8% premium to Aquila's Friday closing price. Aquila maintains high quality iron ore and coking coal assets in a low risk destination (Australia) that are of huge strategic interest to a group like Baosteel.


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Gavin Wendt
Founding Director
MineLife

Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).

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