mitsubishi staggered deal?

Latest press states Mitsubishi as buyer of MMX's interest in JH & OPR, only question now is price.

We know of no other bidders despite books being open for some time, this leads me to assume price will be on the low side as no price tension is evident with China Inc avoiding it and waiting for deadline to expire thereby lowering expectations and re-entry price if they proceed.

Mitsubishi buying without a deal with GBH & Sino makes the take out price low if an all cash deal is agreed now.

So in order to provide a decent return for MMX shareholders I think a staggered deal will be proposed, that is more later when other parties come on board and make OPR viable.

Still expect a number of conditions to any deal when announced and not a straight deal, so in effect more complicated they make it with hurdles, conditions etc. the higher the final price to MMX.

Above scenario would protect Mitsubishi if other parties hold out on OPR and stop it from proceeding. Otherwise a cash bid for all MMX shares would be the most likely course and no one is talking about this happening.

At the start of this derailment it was all about agreed tariffs, to date this has not been addressed and until it is wrapped up OPR won't proceed on just one mine alone.

Good luck to current holders, you have been to hell and back with this one!