Stating the obvious hotty...It certainly looks like the insiders...

Stating the obvious hotty...It certainly looks like the insiders might have heard that RIO will not extend past the deadline of next Friday week (4/3/11). And I guess it is obvious that there are virtually no acceptances of it and therefore the chances of getting to the 50% threshold is practically zero (and Tata and CSN who hold about 44% between them appear very unlikely to accept).

Therefore options open to RIO are really only to make the offer unconditional and hope to attract a reasonable minority interest, increase the bid price, or allow the bid to lapse and raise the white flag. Market is saying the latter is most likely.

I'm satisfied to hold anyway and will buy more if the price gets down below $14.

regards
DF