I bought TRIB last year. At first glance I had thought they would be an easy tuck in for someone in the diagnostics or device space. Then listening to (non)progress led to checking out Ronan's historical performance. It ranged from 'not very good' to 'really pretty bad' in terms of product development. LOTS of wasted capital. Lucky to sell before this latest bloodbath.
I appreciate the point of view expressed, but in what sense could you think that AMCC shipping costs can in any way compete FOB Cleveland? Not only is the distance much greater and more costly in lock fees/delays, but the rail to shipping point is also much further. After all, the same size bulk carriers are required. Are you assuming some USD/CAD advantage?
Also, there is no sign yet that Essar has any credible alternate source of supply given that Iron Ore Canada will be subject to the same price disadvantages. Even if they did, CLF will likely prevail in requiring specific performance of the supply contracts - including retroactive compensation.