A test of the mettle for target Aquila

The Aquila takeover is a vote of confidence in future iron ore prices and could significantly speed up the entry of a major new export province, cutting China's dependence on Rio Tinto and BHP Billiton.

The logic underpinning the $1.4 billion joint bid for Aquila Resources by Aurizon and China’s Baosteel is obvious. The tactics, however, aren’t quite as clear.


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