BlueScope & Arrium.
Following a rejected bid by Posco Australia and the Noble Group for an unsolicited $1 Billion takeover - rumour is rife of a merger between the old off shoots made by BHP that formed the Onesteel and Bluescope. Can't see this happening as Arrium is now the number 4 or 5 iron miner in Australia. BlueScope is not into mining. The majority of Arrium steel distribution is imported (they have their own colour line) and BlueScope Distribution costs money to run over the last 2 or 3 years.
|Arrium Iron Baron Mine south of Whyalla.|
The new MD of Hills bought 100,000 shares at $1.15 on 28th September 2012 under his Pretty Superannuation Fund. In 5 days it has managed to go down to ASX HIL shares to $1.145 so a loss of only $500.00. His salary should cover this no problem - providing they pick up. I think there will be some changes with Fielders and Orrcon happening sooner than later after his first few weeks to settle in!