trading halt.... bids for..

the news everybody has been waiting for. gda bids for rio

from

http://www.boomberg.com/news/index.html?Intro=intro_news.gda=rio

In a move that stunned the market, minnow gondwana resources has trumped bhp's bid for rio. The offer for rio, was pitched at 10,000 gda shares for one rio share, valueing rio at $250.00. The managing director of gda, said that there were obvious advantges of combining gda's iron ore, gold, and uranium deposits with the resources held by rio.

rio directors will meet later this morning to discuss the bid...
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frankly, watso thinks that they are paying too much for rio, and will lead to a massive dilution of value for current gda shareholders, if the bid succeeds