Bradken's new deal

Bradken has attracted yet another deal and the share price has reacted badly. What is spooking Mr Market?

After rejecting a suite of takeover offers – we count at least four – Bradken is now investigating a proposed merger with Chilean business Magotteaux, a firm which manufactures grinding media. The terms of the proposed merger are unknown just yet but two things are clear: the merged entity will remain listed on the ASX and the market has reacted with venom.

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