wrong IOC....iron ore
I was looking at that too. Last year it was IOC or the Iron Ore Co. for about $3.7 Billion and now they are saying IOC or the InterOil Corporation for about $4 Billion. It doesn't help that both are valued around the same price.
The DailyMail article clearly is talking about InterOil, but I wondered if they got it wrong? The details though seem to lend some strength to the rumour...
I think they do have the wrong company.
As its shares gushed 2 per cent to $54, rumours were rife on the Street of Dreams that cash-rich Teck Resources of Canada is lining up a cash offer in the region of $85 a share, valuing IOC north of $4billion.
Teck’s advisor Bank of America Merrill Lynch has apparently already reached agreement with IOC’s major 19.8 per cent shareholder, Chandler Corporation, and has held several meetings with the IOC management about transacting a ‘friendly’ deal.
