Aquila bid too low: analysts

Baosteel's move on Aquila Resources is a 'low-ball' offer that is unlikely to succeed in its current form.

China's $1.4 billion move on Aquila Resources is a “low-ball” offer that is unlikely to succeed in its current form, analysts have argued.

State-owned Baosteel teamed up with Australian freight company Aurizon to bid $3.40 a share for the 80 per cent of Aquila it does not already own.

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