I think it is risky jumping on this bandwagon now.
Chinalco has paid a massive premium to what BHP was offering and has a 12 percent stake. This means that Bhp has to offer around 4.5 of its shares for each Rio share. They may feel this is not worth it as the fight may take the price much higher.
So what happens if BHP walks away?? Rio drops 40 bucks or so. BHP will go up a few dollars. The premium in SPI will evaporate and will probably drop a 100 odd points.
Therefore it may not be the best time to jump in.
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