The company's withdrawal means all eyes are now on Fortescue, which still has a 19.9%-stake in Atlas and has not yet disclosed whether it plans to launch a rival bid or sell its holding into Hancock’s offer.
We’ve seen investment in the oilsands decrease substantially, but at the same time we’ve seen investment in other long-cycle projects globally increase.
The threat of new tariffs against China pits the world's two largest economies against each other and looks set to disrupt global supply chains for the tech and auto industries.
The industry argues that the free carry -- which means the respective groups don’t have to buy their shares or pay their way -- will make new developments even less likely.