Yeah it's all disclosed in Jindal's bidder statement. At the...

Yeah it's all disclosed in Jindal's bidder statement. At the time of the original offer they owned 14.46% of the stock and Benny owned 52.91%. They've probably manage to acquire a few more since then.

Their latest offer is starting to get closer to the mark and the market seems to think so as well, at least judging by the lack of buyers above 30c and the number of sellers at 31c. I'd have to agree with the sentiments above that at 35c/share they'd probably have everyone's remaining shares except Benny.

I disagree with the sentiment though that Jindal is just putting on one big show to flush out a buyer for their Rockland's shares. They've launched two takeover bids in the last 18 months, spent a fortune on advisers in the process and Rocklands assets are a sensible fit for their existing steel business in India.

Personally I doubt that there is another genuine bidder waiting in the wings on this one. We will know for sure by June 20 and Jindal has certainly taken the right steps to flush one out if there is.