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Sierra Rutile Share Discussion Threads
Showing 1351 to 1375 of 1375 messages
|A counter bid would be much better. Far too cheap at 36p. Should be double that|
|If as has been suggested prices have been held back and supplies are running out could we possibly have a counter bid?|
|Broker comment from today -
Mineral sands, Antitrust regulators and the dangers of holding up a merger
• Word has it that the German Antitrust regulators looking into the merger of Sierra Rutile with Illuka may need more time so that they can better understand the market for mineral sands.
• It appears Illuka are now producing almost all their rutile from stockpiled heavy mineral sands which may run out within the next two years following the depletion of deposits in the Murray Basin.
• We note, mining in the Eucla Basin has been halted while rutile prices remain so low.
• It is easy to see that with rising costs and falling resources rutile supply could drop away in Australia causing Illuka to seek to replace production through the acquisition of Sierra Rutile.
• This might serve to raise Illuka’s market share but it will not necessarily raise the volume of rutile coming into the market.
• Refusing the merger could even prove counterproductive for the market. Sierra Rutile is a relatively small company and still needs to manage its planned expansion in Sierra Leone. The expansion would benefit from the financial security of being backed by Illuka and its better technical ability.
Link -> hTTp://www.proactiveinvestors.co.uk/columns/sp-angel/25952/today-s-market-view-atalaya-mining-savannah-resources-shanta-gold-25952.html|
|Broker comment from yesterday -
"So why are the German Antitrust Authority getting involved? Is it because Germany hosts a number of traders and consumers of titanium mineral sands? Might they be flexing muscles afforded by the European Union? The chances are that the Authority will allow the deal through though it is possible that there may be some conditions applied to Illuka's dominance in the market for zircon supply," analysts at share price Angel said.
"It is our view that the revenues and profits of mineral sands consumers have been long and unjustly held back by a relatively small group of specialist consumers, though we note that no anti-competition review has been launched into the actions of consumers in this respect by any German Authority."
Link -> hTTp://www.sharecast.com/news/sierra-rutile-s-proposed-merger-with-iluka-hits-snag-in-germany/24915052.html|
|A long term hold is a short term one gone wrong!!
I would like to know why this has gone to Phase 2 referal.|
|I'm talking holding for the long term|
|If this deal is blocked the shares will be down to low 20`s and the Arbs will be sellers, FELIX99 I dont know what you are on but can I have some please!|
|not unhappy - I thought 36p was a steel anyway as the cycle turns up. If the deal got blocked so what its worth more than 36p so happy to hold here.
I certainly wouldn't bail at 30p. Just means got to wait a bit longer for 36p and why would you sell at a 20% discount for the sake of 3 months or so for cash.|
|Is this good or bad for PI's? I never thought 36p was a fair price considering the future the company has.|
|This link explains what the German authorities are doing -
Main examination proceedings (Phase II)
If the main examination proceedings confirm the existence of competition concerns, the FCO sends a written
statement of objections to the notifying parties setting out the relevant issues. The parties can then submit (further) comments and/or proposals for commitments.
Phase II proceedings must be finalised within four months from receipt of the (complete) notification by one of the following:
Unconditional clearance decision.
Clearance decision, which is subject to conditions or obligations/commitments.
If no decision is taken by the FCO within the prescribed period, the concentration is deemed to be cleared under German merger control rules. However, the following exemptions apply:
The four-month period may be extended in any circumstances for a fixed time, provided that the notifying parties consent to it.
The four-month period is extended automatically for one month, when the parties offer remedies for the first time (see Question 10).
The four-month period is suspended automatically if the parties fail to provide sufficient and timely information in response to information requests of the FCO (until such information is provided).
Decisions adopted by the FCO in Phase II are formal decisions, which must be reasoned and are subject to appeal (see Question 12).|
|If the BoD have accepted a 36p bid it seems a little odd that the share price does not reflect it|
|Sierra Rutile’s (LON:SRX) board of directors and major shareholder have accepted a takeover bid from Iluka Resources that values it at £215mln.
|Big on the bulletin boards:
Sierra Rutile’s (LON:SRX) board of directors and major shareholder have accepted a takeover bid from Iluka Resources that values it at £215mln.
|Yes -t is difficult following the definitions and seeming to land up in a potential cul de sac. FWIIW I am working on 9th September; cash into TDWs crest account; the shares are delisted then.|
|I have and am none the wiser !|
|Felix - I suggest that you read the circular which you will find on the company's website under "home".|
|Is there any info as to what date we get paid the 36p then ?|
|Can we buy iiuka resources shares anywhere?|
|No. I have voted against all 3.It is a done deal; it wont make any diff.|
|Is there any chance for a special dividend here? Any thoughts welcomed|
|36p is far too low a price. It should be double that with everything going for the company. Why are Pala willing to sell so cheap and what deal will us PI get?|
|The shares are not suspended.
I guess that the board are waiting to collect on their options where they have them and they are in credit.|
|So what are the bod actually doing now? The shares are suspended?|
|urchin1 - your post should be rephrased "the board should have referred the offer to independent advisers"
Unfortunately the board seem to be complicit in Pala's desire to sell at this low price when the market is turning and SRL will benefit from the upturn in rutile prices and the exponential increase in production.
The bid is to suit Pala; not the shareholders. The board should have been conscious of that fact and acted in the best interests of ALL shareholders. The company is worth more.|
|BOD should reject this offer !|