chinese chequers, page-4

I assume that the revised $3.00 Xstrata offer is still contingent on a 50% or greater take up by SPH shareholders. Of course, apart from the directors, we don't know what the major shareholders intend to do but I would have thought that at $3 they might be battling to get a 50% acceptance. At $3.50 I'm sure that most of the smaller shareholders would have been happy to part company with their shares, but at $3.00 I'm not so sure. So come the 12th, with Xstrata quite possibly having less than 50% no cheques will be going out. In this case we are going to be left with the Sin-Tang proposal only.