new year-maybe a new deal., page-7

I agree that refusal would not boost the SP short term. I'm in for the long term.
I'm also worried that having the Chinese government the major shareholder is very bad for us long term. Had the Chinese govt been able to get a bigger foot in the door with iron ore it would have been a much different case trying to renegotiate iron ore prices. Aussie companies would have ended up supplying China with cheaper irin ore than will be the case now.
If the deal is knocked back finance will be available. An SPP would only be a small part. I'm sure there are investment funds and banks that will come to the party.LYC's management acted with panic and accepted an offer much too low and with the unnecessary condition of majority ownership. It was a good deal for the Chinese and for the CEO, a lousey one for the shareholders.

It is OK for opportunistic traders that bought in during the crash and just want to make as much as they can in the short term. Money isn't everything. Maybe I go back to the days of King and Country. I still believe that we should sometimes put other things ahead of a quick buck.