My point is if WNI are wanting a combined BRM-FRS group, they are dreaming or have little chance if they think they can get that via a traditional merger. They simply do not have the numbers, and it looks too difficult to get.
Just an aside, there is some cleverness behind merger laws that offers protection for minority holders in terms the threshold numbers. It's a massive shame that ASIC & the Takovers Panel did not enforce other provisions in the Corporations Act that protect minority shareholders! But I digress....
Now if WNI want somehow to combine, slice or dice its own holding of BRM or FRS into a merged entity or some spin off, or sell it back to the local Chinese overlords, that is up to them. But BRM is going to still be on the ASX until such time as they make a reasonable cash offer, or it just keeps on trading.
It is surely in WNI's best interest to stop playing funny buggers with the share price and help to create an aura of confidence about the Marillana project.
In addition, while we are all awaiting for their brilliant and cunning rail plan.....let's hope FMG is still alive.
Why do these guys always try to make things harder for them & us? I can't work the buggers out.
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