If the GRR-ABM deal is approved by GRR shareholders (including RIO), they will be diluted along with all other GRR shareholders ==> current GRR shareholders will have a smaller slice of a much bigger pie.
Diluted from where? See www.asx.com.au/asxpdf/20070814/pdf/313yhc1l5jzdvt.pdf
As a result of that deal, RIO owns 9 million GRR shares, and holds 17.5 million options. Of those options, 8.5 million are good until the 28th of this month, so keep your eyes peeled to see if they exercise.
Fully diluted in GRR today, RIO would own just <20%, so their influence on the ABM merger vote could matter. However, they might well exercise the 8.5 million options that expire on 28/9/08 and sit tight on the 9 million that have another 2 years to run. Watch and wait is all we can do, I guess...
the 1 billion company has created, page-3
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