Some fun and games ahead as former directors and managers have...

Some fun and games ahead as former directors and managers have not stated their position on the Yanzhou bid yet. Three directors have accepted for 48% with provisos.

Yanzhou may raise their bid to $20 a share to satisfy these holders, that is if no counter bidder emerges. At the same time a counter bidder knows exactly where to place their bid, of course, it's $20.
After a bid at $20 we will see if Yanzhou are the full dollar or not and capable of bidding much higher, if not, they may pass the reigns over to Shenhua Energy.

If Shenhua show no interest then we may see the killer bid by BHP or Vale.