Atlas Iron Limited (ASX:AGO) and FerrAus (ASX:FRS) have announced their plan to combine their South East Pilbara assets into FerrAus.
The announcement comes after Atlas made an off-market offer for FerrAus, whose shareholders would potentially receive one share in Atlas for every four FerrAus shares.
At the start of April, Atlas Iron Ltd (ASX:AGO) posted a shipping record for the March quarter and said it was on target to export 1.5 million tonnes in the June quarter.
In the second half of last year, Atlas Iron Limited (ASX:AGO) reported a profit of $30.1 million.
