Apart from the Chinese, Koreans and Japanese entities that have been speculated by the media thus far, I am not surprised that BHP would also be taking a closer look. The have the fire power in terms of a BIG surplus of cash from net profit. I think this would also fits in nicely with their strategy of buying assets where underlying commodity price still have not rocketed up yet like gas prices. I would lump RIO in the Chinese camps together with the rest of the interested sovereign entities being threatened by security of supply issue instead of looking for an undervalued asset. I cannot see RIO sitting idly by and they may not make their first move but that is just guess work. Let the auction begins and many players will be booking their seats as from this morning.
EXT Price at posting:
$9.26 Sentiment: Buy Disclosure: Held
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