re: Ann: Commencement of Takeover Bid at C$8.... Yes it would...

re: Ann: Commencement of Takeover Bid at C$8.... Yes it would appear that this deal was sealed earlier than we were led to believe and that other third parties were wasting their time in even looking at it.
The only hope left is the huge turnover on the TSX over the last three weeks but it's hard to imagine that a third party would attempt a bid or spoiling tactics in the face of Minmetals already locking up over 40% - it seems like a forlorn hope at best.
The more likely scenario is that arbitrage players have been buying and picking up the margin in a quick successful bid.
Friends of Minmetals may have also been buying.
I'm still expecting a quick bid process and that we'll be seeing the proceeds in early December.