t/o ??

MGX are sitting on $420m cash
GBG mkt cap $157

its a no brainer for mgx to take over or merge with gbg ??
there must be talk going on for sure behind closed doors about Midwest consolidation amongst the oreys

gbg in a very weak position to go forward on its own.
merging and consolidating would be a win/win situation

however ansteel will have to decide sooner or later what to do with the other gbg share holders who don't have anymore equity to contribute to the jv

watch this space. intercorporate activity will have to explode at some stage