The vote to allow Harbinger the right to own by a significant additional percentage of CLF has failed this morning. It would seem shareholders did not trust the premises behind their request for more control of CLF. Harbinger is against the buyout of ANR by CLF.
Harbinger issued a statemnt regarding their disappointment. They own alot of CLF shares and at some point may bail. the buyout proceeds and should be finalized soon. This creates a pretty big US resource company with dual focus in iron ore and coal.
ANR is simply flying this AM. CLF is doing well. Whew! I am cautious on CLF. Harbinger has enough shares currently to really cause PPS grief for CLF depending how they play it! we will see?
Kutz