Inform
What is driving the bidding war for Atlas Iron?
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Report summary
Hancock Prospecting has entered the bidding for Atlas Iron with an all cash offer of US$289M. But Atlas Iron is losing money and its assets have limited remaining life - so why has a bidding war emerged? We believe Atlas's US$377M of deferred tax assets are its main appeal as the port allocation at Utah Point is of little value to Hancock. Having the option to develop the high grade Ridley Magnetite project may also appeal. Mineral Resources has been given until June 21 2018 to increase its bid and FMG may yet make a takeover offer for Atlas too.
Table of contents
- Executive summary
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Deal analysis
- Iron ore assets
- Infrastructure and lithium
- Deferred tax assets
Tables and charts
This report includes 1 images and tables including:
- Atlas, Mineral Resources, Hancock and FMG Pilbara assets
What's included
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