Your note concerning the share price vis a vis the terms of the KWG offer is valid regardless of whether Cliffs is behind it or not.
We all need to realize the price of KWG is skewed at the moment because there is not an official offer on the table for them. This is simply part of the game that is being played.
Let’s see what the sweetened offer from KWG is and then take it step by step. I will vote for the amalgamation simply because I believe there is a built in safety factor in the proposed business combination and secondly I also believe the value of owning a majority stake in the deposit will be more marketable.
An added bonus will be the two companies speaking as one. We will be less susceptible to contrasts in management style as Neil and Frank will have to work together or reach an accord on decision making. I don't want to see Cliffs benefit from any real or perceived differences in opinion between Neil and Frank.
Unless someone presents a very strong case against the merger plans I will be 100% in favor.
imo
A
