Fortescue acquired 90% of Red Hawk

Fortescue offered AUD 1.20 (USD 0.77) per share for Red Hawk's shares. Following Fortescue's offer on February 18, it is expected that the Australian Securities Exchange will suspend the sale of Red Hawk's shares on February 25, five business days later.

Shareholders who have not yet accepted the offer can do so until March 3, unless the offer is extended or withdrawn. Red Hawk has advised its shareholders to accept Fortescue's offer. If shareholders do not accept the offer by March 3, the price of the shares acquired through the compulsory acquisition will be paid to Red Hawk, and those who do not accept the offer will need to request the share payment from Red Hawk.

Fortescue's acquisition of Red Hawk further strengthened its position in the global market as a raw material supplier.