Ann: 4.2 cents per share takeover offer from Hancock, page-108

Yep, that's my understanding as well that a person who makes a bid cannot purchase shares above the stated price. It makes sense otherwise the TO offer is meaningless. The reason for the higher price being purchased is that someone believes there is more to come or they want to curry favour with Hancock group to sell at a loss if it does not materialise. Hard to pick which way this will go. Holding at the moment. Not sure FMG will get into a bidding war, but can't say the same for another bidder from China. One in a lifetime opportunity this one for them. If they come in they will make it a big one, money will almost be no object. They will represent buyers as well and make a deal where the main interests are all taken care of in the future .i.e, they will start play ball with the low iron % producers.