chinese take over of gbg, page-4

I'm not sure it's "widely" believed that the Chinese will make a takeover bid at all! Ansteel have the JV in place and a small equity stake. As far as I've been told by senior company sources, they are very happy with the arrangement as they will be relying on the feedstock from Karara to replenish their own dwindling domestic supplies and have stated that 80% of the ore for their new steel mill, nearly constructed, will come from Karara. If someone else made a bid, I'm sure they would protect their interests but I can't see the point of anyone making a bid, knowing that Ansteel would outbid them. They have deep pockets! Don't think Ansteel would bid as there is little point in them doing so.