Anglo American trading in UK at a premium to BHP's offer suggest shareholders expect competitive bid.
A quick poll of analysts in Europe shows that they expect either Rio or Glencore to step in to boost the offer.
In all likelihood, BHP would have to pay more for the deal, and that is not taken well as reflected in BHP's declining share price which is down -3.2% as I write.
A full script offer means a bigger capital base post-acquisition and for existing BHP shareholders who bought for dividends, they may be less enthused as the acquisition could reduce dividend/share at least in the near term.
