- Fortescue shares hit a high of A$2.93 on rumours that BHP Billiton Ltd BHP.AX BLT.L might make a takeover bid for the company or that Chinese firms might seek to take a stake.
- The company, responding to a stock-exchange query, said it knew of no reason for the sudden rise, but left open the door to speculation it might be in talks with BHP or a Chinese suitor.

Other headlines for [FMG.AU]

• FMG.AU 12/29/2008 11:43pm
  Fortescue Metals Largest holder, CEO Forrest's stake has been cut to 34.7% from 47% prior- Executive gave A$54M of shares to 'worthwhile and deserving recipients'.
  
• FMG.AU 12/23/2008 01:30am
  Fortescue Metals Commissions Second Ship Loading Berth at Port Hedland- Co. said the venture would increase the capacity of its infrastructure to 55M metric tons per annum. - The full operation to 55Mta is more...
  
• FMG.AU 12/21/2008 09:35pm
  Fortescue Metals Discloses that it used shares to pay a contractor in a move to preserve its cash reserves- The company adds that it may issue shares again.
  
• FMG.AU 12/18/2008 06:16pm
  Fortescue Metals Says it is entitled to suspend shipping contracts- Says some ship owners have disputed its legal right. - Business operation not affected by claims - Liability estimate not appropriate at this more...
  
• FMG.AU 12/17/2008 05:45am
  Fortescue Metals Update: Moody's affims B1 rating, revised outlook to negative from stable- Moody's cites reduced demand for steel and concerns over expansion plans.
  

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