Fortescue Metals looks like being the next Australian miner to be picked up by overseas investors.
According to the HeraldSun, the American miner Anglo American and China Investment Corp are in talks with Fortescue Metals Group, and both were seen visiting Fortescue properties last week.
This is the latest of a string of deals which has also seen top Australian miners Rio Tinto and OZ Minerals looking to sell substantial assets to foreign buyers.
This deal would further add to Treasure Wayne Swan s headache regarding foreign ownership legislation, which he has signalled is soon likely to be tightened.
Rumours of a takeover have bubbled up several times in recent months, causing spikes in the share price and requiring Fortescue to respond to ASX inquiries. Fortescue has not commented on this latest speculation.
Stocks for your watchlist:
- Fortescue Metals Group: FMG.AX (ASX)
- Anglo American PLC: AAL.L (London Stock Exchange); AAUK.O (NASDAQ)
- BHP Billiton: BHP.AX (ASX); BLT.L (London Stock Exchange); BHP.N (New York Stock Exchange)
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