no cash $500M tax deduction off their expense ledger equity...

no cash
$500M tax deduction off their expense ledger
equity dilution of 1%-5% of current share registers only
And long term massive diversification with 5 IO mines and 15MTpa IO production
US bondholders holding 80% of shares keen to exit with profit

Is this not the deal of the century for MIN & FMG?
For a few shares!

FMG must counterbid, 4.0c just so as to spoil MIN eating its lunch and becoming another major rival, great move by MIN but FMGs Board im sure are crunching the numbers and tactics, forrest/FMG can block this or even take a big stake in AGO or MIN to ensure board seats & future control etc.

Makes sense.