I believe they have enough. Their planning is very long term and...

I believe they have enough. Their planning is very long term and not to be underestimated as fools.

Assuming they get the majority of FRS (largest shareholders appear receptive), they will then merge BRM and FRS. This will reduce the percentage held by BRM minorities.

Then issue more shares for rail reducing BRM minorities below 10% and then stepping to compulsory.

There must be a very big hand behind this and it's not about short term profit or loss but a seat at the iron ore table.

I'm probably wrong and not sure of legal ramifications etc but that's where the joined dots lead me