rival bid, page-12

Thanks for that earlyrise...

I agree with your comments now I have looked at your references and some others that I also found post my message.

What that says to me is that RIO has not received any material volume of acceptances despite the market price falling below the offer price. If that continues I believe then the market will pick up on it and we may well still get a higher (and final I expect) offer from RIO that will satisfy the recalcitrant insto and fundies that are holding out. Got to know when to hold 'em and when top fold 'em.

regards
DF