Iron ore price drops after Trump’s China tariff threat
US President Donald Trump said that he could hit China with 10% tariffs on all imports from as early as next month.
The game of corporate musical chairs has ended with more frustrations than success for the two companies concerned, after BC Iron Ltd (ASX: BCI) got annoyed about Regent Pacific withdrawing its original bid, BC Iron then successfully got the bid reinstated through Australia’s Takeovers Panel, and then deciding it didn’t want to proceed.
The end of this chain was the expert’s report to BC Iron that, in summary, said Regent Pacific’s bid was neither fair nor reasonable.
