Xstrata don't necessarily need 90%. If any one party gets overall control they can soon dilute out the remaining shareholders and make life pretty uncomfortable for them.
If you believe the rumours it looks like Sin-Tang intend to invest to take the company towards mining Askaf. However the equity they would receive on top of their 10.77% would give them effective control of SPH. If this is good for you or I I'm not sure but it would have to be agreed with current major shareholders who like us want to make a profit.
If Xstrata want this they are going to have to increase their cash offer but how much by? Interesting times ahead!
SPH Price at posting:
$2.51 Sentiment: Buy Disclosure: Held
