takeover thoughts

Would another suiter want or need to show their hand prior to FIRB approval (late March earliest, and possibly extended beyond)? If Minmetals gets approval the suiter could still conterbid with a higher but otherwise similar offer, say at 90cps. If Minmetals is knocked back by FIRB the suiter would be in a stronger position and could offer cash + scrip, rather than all cash, particularly if it’s a BHP. There seems to be a bit of resignation that this is as good as it gets both here and in the financial press. IF it is plausible it seems we may be being a bit impatient expecting another bid within days of the Minmetals offer.

Now I just dreamed all this up and am happy to have my reasoning picked apart. (discl; holding to the bitter end).