Farewell to the Pilbara – Todd’s latest exit

Farewell to the Pilbara – Todd’s latest exit
The bad old days – small shareholders protesting in the late 2010s against their alleged treatment by Todd Corp. (Image: Supplied)
Pattrick Smellie
Todd Corp looks set to exit another of its unsuccessful foreign plays following a takeover bid for Red Hawk Mining by Fortescue Minerals that values the untapped iron ore development option at A$254 million (NZ$281m).With a 60.7% shareholding in Australian Securities Exchange-listed (ASX) Red Hawk – previously known as Flinders Mines – Todd can expect to bank NZ$170.6m at an offer price of A$1.20 per share as long as more than 75% of shareholders approve the deal.The exit will bring to a close another of the failed projects attempte...

More Finance

Updated: Manawa shares sag with Contact deal odds
Finance

Updated: Manawa shares sag with Contact deal odds

Forsyth Barr analysts said chances are now 50/50. 

Pattrick Smellie 07 Feb 2025
Forsyth Barr on Spark's 'incumbent's dilemma'
Finance

Forsyth Barr on Spark's 'incumbent's dilemma'

Falling market share and margins in the broadband market look entrenched.

Pattrick Smellie 05 Feb 2025
Unscrambling EGS investment in Trump's world
Finance

David Chaplin: Unscrambling EGS investment in Trump's world

The US rush from ESG investments labels is well under way.

David Chaplin 05 Feb 2025