Imo Essar are cashed up and ready to go with a take over. They have dropped their offer for Rocklands, which co-incides with their private jet breaking down whilst performing due diligence on CCD.
If you know your basic maths, 1 plus 1 equals two, but in this case 1 plus one = takeover. they like what they see at CCD, and believe their money is better off invested here rather than at rocklands.
The Indians have too much cash and not enough coal. CCD is the answer in fullfilling their thirst for this commidity imo.
CCD Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
