some big whopper trades in the last day from offscreen buying up...

some big whopper trades in the last day from offscreen buying up into the depth.

3.38pm yesterday a case in point with $1.5m in one bite at $6.10.

I would not expect BHP to be buying on market as their trade size will oush the stock up anyway. it would be better for them to launch a t/o and be able to use the current VWAP in the marketing x% above prior VWAP, rather than pushing the starting point any higher.

An offer would soon flush out if their is anything of substance standing behind WNH, or whether they would be a willing seller if their offer gets substantially trumped.

if they made a counter offer over the top of a say BHP offer then wnh would in fact be the "trojan horse" for the PRC.

I am sure that BHP is taking a strategic look at this given the vast cash that they spit out each year. Further they could launch an all scrip t/o which would be doable in the eyes of shareholders. as W1 put it, 1:3 BHP for BRM shares would be a killer blow, add a proven resource on their railline, dilute BHP shareholders very little and knock out a potential chinese competitor. I am sure some at BHP are kicking themselves that they dismissed twiggy and FMG in the early days.

In the absence of such strategic thinking and their hard line of rail access, it is pushing larger future competitors their way.

let the games begin! remember the first offer is usually not the last!.... and if it is, them BRM can go it alone and produce significant upside from where the offer is pitched.