Why couldn't Fortescue and CRM come up with a joint counter offer made up of FMG shares and CRM cash. CRM obviously want in (for various reasons already outlined and reflected in their existing offer for 15%), FMG have demonstrated capacity to work with the Chinese and while cash poor could put shares into the offer. Involvement of Fortescue with CRM could probably be structured to get around FIRB objections.
Why couldn't Fortescue and CRM come up with a joint counter...
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