Just wanted to add that with all this speculation over the $1.40 it is worth looking a bit more closely at that report - as it comes with absolutely no substantiation - NONE.
It reads: BHP has made a $220m bid for United Minerals - NOT BHP has revealed that it has bid $220m - AND NOT UMC has revealed BHP has made a $220m bid.
The article was total speculation (on Bloomberg today it was a $200m bid) the same as everything else that's been said.
Logic, however, equates to very much what jojo said in his post. For what it's worth, I feel more confident speculating on jojo's logic than I do on the likelihood of a bid at $1.40.
Good luck to all and DYOR
UMC Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held
