ext fair value ?, page-13

Champ2003,

"The only thing that is concerning me now is that the T/O might be lower than the current share price as there are no guarantees that RIO will offer as much as what we would like?"

Although it is possible, IMO it is very unlikely that any takeover bid will come in lower than the current share price. In general, any T/O bid will usually represent a premium on the share price, not less as you are suggesting. How could anyone offer less than current share price with any expectation of the shareholders voting in approval??

I think we will see 1 or more offers come in within the next 6 months - 1 year and they will be well in excess of today's SP. I am expecting somewhere in the $13-$17/share range (see Lord E's excellent calculations).