tty the bidding war about to start, page-3

kiwi168, this is going to start a bidding war. Exxaro knew this by putting TTY into a T/O play.
Offer a small amount ( ie. 46 cents) and see what the opposition is prepared to pay.
Neither side are stupid, unlike our directors.
Exxaro are coal miners in RSA and they are fully aware that TTY holds a 18.69% stake in BWD, this will give them an opening into coal in Australia.

Noble Group won't be happy losing a piece of BWD to Exxaro, that won't sit well either.

I guess by putting TTY into play, Noble now has no option but to make a formal T/O bid. I think up till now the Noble Group have always been an excellent shareholder, they have supported the company through thick and thin.

However, that has now changed and now they could lose their stake in TTY and BWD. I doubt whether that will happen.

Exxaro have put in a low bid to see what the 'cat drags in'.
Noble will be back in with a full T/O bid around 60 cents is my bet.
Whether Exxaro will go higher that is another question. But you always keep 'your ammo dry' until it's reqd.

This has only just started, sit back and enjoy the fireworks.