What's FMG up to?

FORTESCUE Metals Group surprised the market yesterday with the acquisition of a substantial stake in Atlas Iron. What’s the end game for the miner?

What's FMG up to? What's FMG up to? What's FMG up to? What's FMG up to? What's FMG up to?

FMG CEO Elizabeth Gaines

The company yesterday paid A4c per share for a 15% stake in Atlas - above the implied offer price of 3.1c in Atlas' proposed merger with Mineral Resources.