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Wednesday, April 11, 2012 7:02:14 AM
Analysts have been mulling the viability of a tie up between Pilbara focussed iron ore miner Fortescue Metals Group Limited (ASX:FMG) and Canadian miner Teck Resources.
Hot on the heels of Glencore and Xstrata’s proposed tie-up, analysts at Bank of America-Merrill Lynch claim a Fortescue and Teck merger “would be in the sweet spot”.
A Merrill research report says combining the companies would attract heightened demand for iron ore and coking coal from emerging economies such as Brazil, Russia, India and China.
The speculation comes after reports emerged in February Teck was the most likely buyer of a 2.89 per cent stake in Fortescue, worth about $480 million, and below the 5 per cent substantial shareholding threshold.
Fortescue Metals posted a net profit of $789 million in the first half of its 2012 financial year
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