Looking at today- the total accumulation by Sidero / Xstrata is just 2.6 million shares (ON TOP OF our directors promise of 9.4 million shares) a total of UNDER 7%. A long way short of 90%!
Meanwhile nearly 18.2 million shares (13%+) have traded on market ABOVE $2.50 since the bid.....
Best scenario- Sidero / Xstrata falls WAY short of 90% despite the extension and has to sweeten the bid, or someone else comes in.
Worst case- Sidero / Xstrata gets a fairly good late rush of acceptances but falls short of 90%, but declares the bid unconditional ANYWAY, and the price drops backs into the $1s.
SPH Price at posting:
$2.53 Sentiment: Hold Disclosure: Held
