we are at 51c now, if xstrata do a full T/O why do you think they would offer $3 or $4?
would a $1 bid at this point buy the entire company?
Its not like if X bid $1, someone would come in and bid $1.20 and so on, i cant see it happening.
The only way we can get $3 from a T/O is if nkp are trading at $1.50 and they offer $3, if X are smart why wont they make a T/O bid now?