BC Iron to buy Kerry Stokes iron ore venture
Updated | Kerry Stokes’s iron ore venture is set to be acquired under a takeover deal by established iron ore miner BC Iron, which the Iron Ore board has recommended that shareholders approve.
Billionaire Kerry Stokes is set to swap his stake in a would-be iron ore miner for a stake in an established exporter under the terms of BC Iron ’s $250 million takeover bid for ASX-listed Iron Ore Holdings .
In the second takeover bid to strike the Australian iron ore sector in the space of three months, BC has lobbed a cash and scrip offer for IOH that already has the blessing of the IOH board and its 52 per cent owner, Mr Stokes.
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