Aurizon Looks West

Straight after our piece last week Trouble on the Aurizon, querying Aurizon’s exposure to the troubled mining sector, the company announced a takeover bid for mining company Aquila Resources. Aurizon has teamed up with Baosteel, one of China’s most powerful steel producers, for the proposed $1.4bn deal. Judging from the share price move, investors didn’t view the news positively, knocking 5% or $500m from Aurizon’s market capitalisation. That’s quite a pronounced reaction when you consider there is a significant chance the deal won’t go through, and that Aurizon is a minority partner in the deal - its maximum contribution...

Straight after our piece last week Trouble on the Aurizon, querying Aurizon’s exposure to the troubled mining sector, the company announced a takeover bid for mining company Aquila Resources.

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