Fortescue plans to purchase Australian peer Red Hawk Mining in an off-market takeover bid to gain access to an undeveloped iron ore mine near its major Solomon project in Western Australia, reported Bloomberg. An offer price of as much as A$1.20 cash per share implies an equity value of A$254 million ($160 million) for Red Hawk. “Red Hawk is the…
Read MoreFortescue to tap undeveloped iron ore with Red Hawk deal
