I wouldn't be suprised the Chinese will use their Plan B early next week which is to launch a full take over to eliminate the uncertainty and dilution problem.
Considering the AGO 6MTA operation will net $AUD 30 Million in monthly profit, I don't see why Sin Tang won't get a chinese group or a big steel mill to do the T.O which has a large up-front cost but will pay for itself in no time.
The Chinese may launch a bid at $3.25 (effectivly forcing Xstrata to counter this with a $3.5 response which may not be forth coming.
SPH Price at posting:
$2.94 Sentiment: Hold Disclosure: Held
