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Vale’s $1.1 Billion Offer for Metorex Too Low, Say Holders Fidelity, Metam
Apr. 12, 2011 09:46AM PST
Battery Metals InvestingBloomberg reported that Vale’s recent bid for Metorex is too low and undervalues the company, according to Fidelity asset managers and others.
Bloomberg reported that Vale’s (NYSE:VALE) recent bid for Metorex (JNB:MEMTX) is too low and undervalues the company, according to Fidelity asset managers and others.
The market news is quoted as saying:
An offer closer to 10 rand a share would be “appropriate,” Stephen Roelofse, a fund manager at Cape Town- based Metropolitan, said yesterday.
