Think the Chinese are caught by surprised by the timing of the CR announcement (so soon after Beijing okayed the Glenstrata merger). It makes perfect sense for glencore to acquire DML while being forced to divest their Perurian copper assets. The dilution of CFC stake is serene to be particularly threatening to the Chinese (from circa 15% to 7.5%) as it must be a prelude to a takeover by another entity.
Make no mistake. This is no venture capitalist BS. The black hand of Beijing is all so evident. No private billionaire would suggest he will pay more than other offers especially for a company described so pathetically as one close to receivership. Money seemingly is no issue. Of course its all BS "borrowed" state money. Seems like our lame board may in fact have something up its sleeve. Time will tell.
DML Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
