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

Wed, 29 Jan 2025

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...

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