Battery Metals

Vale’s $1.1 Billion Offer for Metorex Too Low, Say Holders Fidelity, Metam

Battery Metals

Bloomberg 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.

To read the full market news, click here.

MARKETS

Markets
TSX19506.65+156.99
TSXV572.22+4.96
DOW33241.56+37.63
S&P 5003829.25-15.57
NASD10353.23-144.64
ASX7107.70-44.80

COMMODITIES

Commodities
Gold1813.50+11.77
Silver24.11+0.27
Copper3.85+0.04
Palladium1837.62+74.62
Platinum1021.89-3.61
Oil79.87+0.31
Heating Oil3.34+0.13
Natural Gas5.21+0.13

DOWNLOAD FREE REPORTS

×