Full agreement on all your points. A lot of time wasted on past 'corporate actions'. As we anticipated all along that MH was always a willing seller for the EXT stake which is why he opposed the JV with RIO because it complicates matter for a predator. Now that he has found one willing to commit $$, will he be satisfied with only one and final bid or behind the scenes he is scouring the world's sovereign funds to persuade a competing bid?
The market is usually correct on their expectation of a competing bid unless there is one that is waiting for the 11th hour just like CGNPC to strike, the market conditions in EZ and investment banking risk appetite is not looking good. In the hands of the big boys in the register and it is beginning to feel like collusion with them so I can only sit and wait for my fate at the end of the day.
EXT Price at posting:
$8.50 Sentiment: None Disclosure: Held
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