*dj oz minerals: 92% vote in favor of minmetal, page-23

but wait there`s more ...

Ruthless People Banks Chinese OZL management - meet the shifties

Only a very brave - or foolhardy - organisation would extend finance to an overgeared company like Oz Minerals whose existing bankers are already holding a gun to its head.

Going into this morning's OZ Mineral shareholder meeting to approve the Minmetals the board made it clear that the banks had cocked the trigger and were ready to squeeze in the event that investors voted against the sale of assets to Minmetals.

It could be argued that on this basis - and given the proxies received indicated that it would be approved - that Minmetals didn't need to raise the offer.

But there is nothing like certainty - even if it comes at a price.

Lobbing a better offer - and one that sits inside the independent experts range of values - is probably cheap insurance.

http://business.smh.com.au/business/oz-bid-shows-china-inc-learns-fast-20090611-c4aq.html