if it happens it is probably a smart move by oxr. no doubt they...

if it happens it is probably a smart move by oxr. no doubt they got wind of some other player contemplating a move and made a pre-emptive move.

the cash is probably a key component of any other party's t/o motive / strategy. oxr only wants zfx (less smelter assets) - this will make oxr bigger, more attractive and they will get the $4 back in spades if/when another company takesover the bigger oxr.

plus he is giving zfx shareholders some cash, shares in another australian growth / potential t/o company and smaller capital gains tax exposure compared to an offshore based acquirer.