Rail approvals, page-84

IMO, the reason for the loan to FMS from TIO instead of directly going to S/H for CR was for two reasons, 1/ let the price find its own level without interference from TIO, 2/ force a larger loan than was really required, now, TIO know that virtually all sales have dried up,so for them to acquire a bigger % of FMS they need to pick up all those shares from the C/R that the shareholders do not want or cannot afford, they will have worked out their % of what they expect to get and my guess will be about 15% of total share C/R numbers, so bottom line for them will be a net to increase in FMS shares to them of 3-4% , excellent deal for them, they have increased there holding at a cheaper price than there offer. For me, if I had the readies I would buy as many shares as I could, so i could pick up a bigger allocation when the C/R is announced, it is obvious that hook or by crook they want to get to that 75% so they can force a takeover, whether that be by a merger or not.Once all this nonsense is over from Tio I hope we can get too by selling some bloody iron ore.HOLD,HOLD,HOLD.