just out of interest, Rio and Mitsubishi have just announced a...

just out of interest, Rio and Mitsubishi have just announced a proposal to jointly takeout those CNA shares they don't own.

its at a 34% premium to prices at 5 Aug (wasn;t 5 Aug a crap day?)
price is CASH !
Perpetual have already indicated agreement to proposal

it looks like proposal will be by way of Scheme (not t/o).
so Rio and Mit will not vote.

so similar to ESG/STO
market always knew t/o would come.
joint parties engaged in proposal
Scheme proposal
a bit opportunistic
big boys t/o small s/h
customer joining producer in t/o.

cheers