with the extension, reckon rio is trying to negotiate with csn and trying very hard not to pay more and instead offering concessions and stability of supply and perhaps offering better management to fast track the development.
the longer this goes on, the chances of rio increasing its offer fades a little more and its a very slim chance of a counter offer appearing.
should rio up its bid, possibly upto 18 but if it walks away, it falls to 12. $2 upside vs $4 downside. i am considering selling now and perhaps buying in at a later date, if/when the deal falls.
what do others think?
RIV Price at posting:
$15.85 Sentiment: None Disclosure: Held
