Well, FMS has said that it won't affect the bid, but the price...

Well, FMS has said that it won't affect the bid, but the price action this morning would say that not everyone is so assured.

There is another more serious aspect;

Flinders said that an order Nov. 25 by the Federal Court of Australia, freezing A$857.6 million of Magnitogorsk's assets in Australia, wouldn't affect the steelmaker's ability to carry out its A$0.30 per share offer for the company, announced the same day.

So why weren't we told the same day? Where is ASIC when they're needed? What about continuous dislcosure rules?

The freeze was announced on 25th November. It hit the announcenemt list today, six days later. So there have been a number of trading days in FMS by uninformed market.

If this does lead to problems with the bid, I will definitely be drawing this to ASIC's atention.