murchison bid on midwest doomed, page-8

Well what do we know?
1. sino have bought 10% of mis;
2. Sino will not make a t/o bid for mis;
3. MMX will probably increase their bid for mis this week;

What don't we know?
1. Are the mis sellers part of the Law group or someone else. If they are part of the Law group then there is a split and some of them are clearly prepared to sell.
2. Does sino really care about mis and its management or are they more interested in securing at least their current rights and more in a merged mmx/mis? Suggest the latter. If sino goes with mmx they are guaranteed a slice of the infrastructure business. But if they don't they take the risk of losing the lot.
3. What does the Law group want? Cash or perhaps to stay as investors with a directorship in the iron ore industry in which case a better scrip/cash offer from mmx may satisfy them. I expect a deal that will satisfy them.

Wildcard: Yilgarn group

Garbage: chm