Battle of the billionaires emerging for Atlas

GINA Rinehart’s Hancock Prospecting has bought a 19.9% stake in takeover target Atlas Iron.

Battle of the billionaires emerging for Atlas Battle of the billionaires emerging for Atlas Battle of the billionaires emerging for Atlas Battle of the billionaires emerging for Atlas Battle of the billionaires emerging for Atlas

Gina Rinehart at Roy Hill's berth in Port Hedland

A Hancock subsidiary paid A$28.6 million for 846.8 million Atlas shares on Friday, before outlaying another $21 million yesterday for a further 542.1 million shares.

It gives Hancock a 14.