This t/o may extend over months. My belief is that there is an alternate offer out there - perhaps Vale, the Indian consortium or even Tata itself.
Tata only needs half what RIO requires to secure 50% as it already owes 24%. Perhaps Tata will hold to allow the Indian consortium to gain at least 27% and together they hold > 50%.
There have been siginificant buyers at the end of the Passport's selling and no-one in the mainstream media know's who they are. A shareholder must disclose to the market when they hold > 5% shareholding. So the quickest way to find out is to watch the RIV market releases on the ASX website.
There are several bullish predictions out there about a possible alternate bid so I am hanging in there. DYOR.
RIV Price at posting:
$16.31 Sentiment: Hold Disclosure: Held
