flush out final offer from hanlong, page-7

If and when this deal finally progresses to the business end the hedge funds will demand more money.

Merrills are excepting nothing less and they are prepared . Just remember back to august sept there were a couple of guys extremelly pissed off and it took some two weeks for gj to come out with 45c ann. Hanlong had the upper hand back then even if only to keep things moving along re permits conventions. At the 11th hour ie just before voting time merrils will be doing some serious canvasing to determine major shareholder support.

This is the point at which hedgies will have max leverage.

And hanlong might walk and leave behind -

1) highly profitable iron ore asset
2) multiple cross functional agreements re port rail with other chinese co who want to make enormous money in the region
3) cancel soe steel mill partnership
4) allow western co the opportunity to pick a fully derisked asset for half the price


......i can go on and on. You still think hanlong will drop 18 months of multiple parties negotiating , getting everything alligned just because shareholders want a more " reasonable" price.