re: Ann: Institutional Acceptance Facility up... There are no other bidders, and RIO will not increase their bid. The only thing that probably will happen, is the offer going unconditional.
CSN is the problem; no one has anything good to say about Steinbrook. TATA would like to see them gone. RIO can go unconditional, team up with TATA, do a cash call and if CSN don't have the funds, dilute CSN down. TATA nor CSN have the experience to pull off the infra development that will be needed; they want RIO on board.
RIO will not give up on the RIV bid.
Cheers, Skip
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