The problem,Butchy,is Kerry Stokes. They have to get his 51% and as someone said - he didn't sell at $2.70 - will he sell at $4.00? $5.00?
He is our champion in terms of optimising the takeover price and he'll do the deal I'm sure. $5.00 is $1.00 per tonne - he might try for $1.30 per tonne which will break through $6.00 per share. He might take $4.00. I like the fact he owns 51% - we'll get a good deal if Rio decides to buy us.
By the way -the Rio expansion budget is $14.8bn not $16.8bn as I stated - but what's $2bn between friends.
IOH Price at posting:
$1.93 Sentiment: Hold Disclosure: Held
