There is a more cost effective way for BHP shareholders with the Anglo play.
Let Anglo pay for the costs of the non-performing assets via demergers, rather than BHP paying for them in a full takeover. Then pick off what you want even if you have to pay a premium the result would likley be better for BHP holders.
Anglo will canabilise itself by trying to fend off BHP. I suspect that is what BHP is trying to force, drop the bid once Anglo commits to the demergers, and Anglo is at a point of no-return!
BHP Price at posting:
$44.43 Sentiment: Buy Disclosure: Held
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