No dude. MMR has the same management as FCX, which gave them incentive to take it over. MMR was insolvent and needed liquidity to free up their ultra deep wells. CLF does not have shared management with any suitor company.
Also, if you listened to the call, the used a 30% premium compared to the 1 month stock price average. Shorts didn't really have much to do with it, it was all about what FCX decided to give MMR.
Listen to calls and you would be more educated on these matters
I didn't say that CLF was identical to MMR. I was pointing out some similarities. Both stock prices were pushed down by an abnormally high short position and both companies own access to valuable resources--depending on market price. I think calls are a waste of time... the presentation is frequently misleading. I've heard some execs straight up lie on calls too.
When CLF was in 40s before Q3 results, it was rumored that some big player was in talks with CLF for takeover. Maybe the talks were real and are still going on. In my opinion, as largest iron ore player in North America and holding two projects (Bloom Lake and Ontario Chromite) with big potential, CLF is a good target for big players. Price? Likely in the range of $45-55 in case of a take over.