new year takeover offer, page-28

aka----i think there is two points you are not fully understanding.Maybe you do.
1/the option is for 51% of the Roseby project(most of it)
2/no shares are changing hands---only a joint venture.
Another point to cosider is Xstrata is an overseas company ,and as such would need govt approval to buy an Australian owned company(i think).A hostile takover would need them to own 90% of Altona to force the remaining 10% to relinquish their shares-------This scenario dousnt look likely to me---it may to others---but i think its in the "too hard basket" and most likely would not pan out this way---just my thoughts.
ATM Xstrata has a holding of 3 million shares through Mt Isa Mining.