Agreed they need to walk away now. I can see the attraction to the assets. The first offer while not a bargain I could probably stomach taking a long term view. The second offer is too high, if they go any higher they will be paying significantly too high a price.
I've added over the last couple of days expecting them to walk and the share price to increase 5-10% from my recent purchase once confirmed (if confirmed).
My first thought when I heard about the offer was wtf? I think of Anglo as mainly a coal miner, and after bhp recently divested coal mines (in my view fairly cheaply), to turn around and buy coal mines (fairly expensively) seemed ludicrous. Seeing that the main objective however was to buy the copper mines it makes more sense, however they can't pay too much.
BHP Price at posting:
$43.15 Sentiment: Buy Disclosure: Held
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