Hi Jojo/Everyone else,I just received the offer documents via...

Hi Jojo/Everyone else,

I just received the offer documents via some very slow swimming snails. Couldn't see any reason why they sold. I have never seen such a rationaleless capitulation. Canadians must be self doubting jellyspined wimps.

Sounded like they went begging for buyers, that Xstrata gave them a low ball offer on the Thursday night, spiked their drinks to shut them up, shut them in a room the next day with Morgans playing loud music and praising takeovers as a hangover cure, hoping they would go away. Failing that agreed to spend the weekend signing papers, so long as they agreed to stop talking about their marvelous data room ever again.

Seriously, what a joke, and now a serious price cap. We'd be A$22 by now business as usual.

Somehow I had got the idea compulsory acquisition was at 67%, but reading the offer it seems to be at 90%. Not that I'd want to be a minority in an Xstrata subsidiary!

I can't see the offer succeeding, but not confident of another bidder, hence we could end up with a half hearted management, or an Xstrata controlled board.

A switch to IGO at the time of the offer would have been a great move - hindsight. Nevermind my no.1 holding (which LIM was recently).

Where is the next no brainer after these miraculous nickel stocks??

EL