"Anyone know why fmg backed out of this one? Will be interesting...

"Anyone know why fmg backed out of this one? Will be interesting to see whether or not this is all just posturing and fmg comes back with a lower offer."

I don't know, but I very much doubt that FMG would bother getting involved in any kind of chicanery for the sake of a few million. Its not in the nature of the company. Their history, - and I've read every announcement since 2003, - is of simply telling it like it is, up front, take it or leave it. I believe that the original reason given for the plan was to secure some sort of long term independence regarding their energy supply. I don't know what changed, and we will probably never know.

The media and many traders are so used to dishonesty and devious behaviour from companies, that they always look for it. That may not be a bad thing, caveat emptor, but taking statements, and announcements from FMG literally, has proved to be totally safe.