Ann: OZL: Notice of Change of Institutional Acceptance Facility, page-36

I agree it looks to be a close run thing. Glencore are obviously the key. In my opinion they will probably get Glencore, I think they would probably like to retain some exposure to the assets but no way do they want to go back to being the operator again. They can still maintain exposure by accepting the offer and also pick up a nice stake in OZL which might have consequences in the future (Wolf in the hen house). Greenstone is anyone's guess. Sure they have stated that the price doesn't meet their valuation but if OZL attain 50.1% and the offer goes unconditional then I wouldn't be surprised if they fold.