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Wednesday, September 22, 2010

Baffled by a Takeover from Iron Ore Acquisition

Baffinland Iron Mines is up an astounding 62% today. The company received a takeover offer of 80 Canadian cents a share from Iron Ore Acquisition Inc, a company based in Nunavut. The stock soared to $0.92 on speculation that the company could receive a higher bid by another company looking to expand it's iron assets.