posco takeover game of cat & mouse ?

If so this may be announce before too long.

Could the last minute withdrawal by SK be a move to create a compelling event to (suppress the share price) so that Posco can make a full takeover bid (at a so called premium relative to the ridiculously heavily shorted sp now) ?

The Koreans including KEP, POSCO already own 32% remember ?

Posco has also made public in the last 6 months it is on an aggressive acquisition spree for overseas resources.

SK said they have better things to do with their money but they didn't elaborate.

If Posco was to takeover anytime in the last 6 months they would have had to fork out 65 to 70 cents a share.

The fact that SK is a Korean mob and that the Koreans already own 32%, would itself deter the Indians and Chinese to take a look.

A low ball bid by Posco proclaiming to be the saviour of COK share holders can't be ruled out IMO.