Ann: OZ Minerals Rejects Indicative Proposal from BHP, page-139

I believe that Mike Henry wants to be seen as a winner (as does Andrew Cole, naturally). Mike, particularly, as he carries the scars of the attempted takeover of Noront Resources. He has also backed himself into a corner, somewhat, with his comments in London last week. I am guessing that Mike would see $30/share as a loss and perhaps something like $27.50/ share with an optional share offer (perhaps approx. 1:1.35), as a victory.

This could be a little tricky for Andrew Cole seeing as the 52 week high for OZL was just below $30/share and it would be difficult to accept anything less.

Just my thoughts. 'Would appreciate yours.