nhc comes to the party., page-16

IMO it is unlikely that both CITIC (17%)and Arcelor Mittal (16.6%) will want to sell out their interest in MCC. They will be astute enough to see the medium term growth prospects as MCC ramps up production and PCI prices increase. This will mean that a compulsory takeover will be difficult to achieve even if MCC were to recommend an offer.

I also was unhappily forced to sell my Excel Coal shares. Unless a remarkable offer is forthcoming, I do not intend to accept any of the offers. I'm not sure what I would do if New Hope improved their script offer but it appears that they want 100% control. I think that it will be difficult to achieve 90% or more acceptance required to achieve compulsory acquisition, given the current 2 major holders above.

ANZ