MIM shares were heavily traded for a second successive session on Friday as rumours continued to swirl regarding the presence in Australia of Xstrata chief executive Mick Davis. Analysts said Mr Davis had briefed institutional shareholders and a bid for MIM was imminent. The bid is expected to involve one Xstrata share and $1 cash for every 20 MIM shares valuing MIM at $1.86 per share. At midday on Friday, MIM shares were up 2¢ at $1.62 on turnover of more than 5 million shares, having hit a five-year high of $1.66 on Thursday.
