CAPITAL MARKETS

Investors ignore Xstrata

INVESTORS continued to bet on another bid emerging for WMC Resources in the wake of yesterday’s hostile offer of $6.35 per share by Xstrata, with the stock remaining comfortably above $7/share and majors Rio Tinto and BHP Billiton seen as the favourites to spring into action, either separately or together.

Rebecca Keenan

Investors ignore Xstrata

One analyst said Rio and BHP have both had their eye on WMC but would not act until a hostile bid was made. The $6.35 offer from Xstrata was quite low according to one analyst, who said a fair price...

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