as I said at the top of the thread... absolute bollox. There...

as I said at the top of the thread... absolute bollox. There really is a lot of nonsense talked by clueless people on here. BHP (and any other party interested in RIO) really need a scheme of arrangement due to RIO's dual listing and complicated corporate structure. A scheme will only occur with board approval and, given RIO has thus far refused to engage BHP, this will take some time. The most likely result - following on from RIO envoking the UKs put up or shut up defence - is that BHP won't make a bid in excess of the 3:1 and walk away for six months while those hedgies and instos long RIO pressure RIO to engage meaningfully with BHP. Kloppers doesn't 'need' this deal anymore than RIO do: it is simply a great option to extract massive synergy benefits that will be lost to both sets of shareholders if it doesn't go ahead.