redcorduroy,We have to be realistic about it. Just because BON...

redcorduroy,
We have to be realistic about it. Just because BON and MAK are separately listed companies, doesn't mean from an organisation persepctive they weren't always inter-related (due to th directorship tie-up). Originally their separation may have been due to their different focus but now that their focus is the same ie phosphate, it makes sense to almagamate.

I don't see it is a bailout per se, it is (if the takeover goes through) a protection of the BON assets from a predator. Personally I would have liked to have seen it done a bit later when the MAK shareprice was higher but maybe the current offer (which appears undervalued to me) takes that into account and maybe there was a need to act sooner rather than later.

In the scheme of things I dont think this takeover has a great material effect on MAKs shorter term (next year or so) future.