1127 [Dow Jones] BHP (BHP.AU) takeover of WMC (WMC.AU) near inevitable ahead of scheduled closure of offer on May 6, and assuming new offer doesn't emerge. WMC rallied to March 10 peak of A$8.04 after BHP pitched bid at A$7.85/share with investors thinking Rio Tinto (RIO.AU) might want to enter ring. But BHP still stands alone, with WMC price drifting down to near bid level, last A$7.86, down from A$7.98 a week ago. So, almost time for investors and speculators to say bye-bye WMC. Some thinking Newcrest (NCM.AU), the last of the local big ones, next cab on rank for takeover. (RCB)
