remember Noble is only shooting for 24%, and the large shareholders must has approved of this. Peabody is also wanting a partnership stake. This is why I think the NHC offer would be the best. They could take a stake and leave Arcelor, Posco in there. Those who wish to cash out could do so, those who wish to stay in could roll over into NHC stock. Not that much different to the GCL deal.
