swan blocks chinese takeover of oz mine, page-33

Depends on the negotiations over the weekend Daniel. I reckon Swan would have talked to all parties first and will have tried to broker a good outcome before announcing.

Minmetals still want in, it seems. A good deal for them because this conditioonal approval means they can buy some Aussie assets (Century, etc) and then add to them as they intended by taking over other Aussie resource companies in the near term. (The precedent and approvals having already been set by the FIRB/Treasurer's approval of the revised OZ takeover.)

So, Oz sells PH to someone suitable for about the valuation MM had on it, and a two part takeover at 80 cents proceeds.

MM wins - can push ahead with more Aussie takeovers, (just not the ones near Woomera!), BHP wins (of course), Government wins (seen to be strong, etc), OZ gets taken over at similar price as first proposed.

Pretty straight forward, I reckon. We don't need to panic.