Firstly CS are the Adviser to AOH + they own shares. Thus they...

Firstly CS are the Adviser to AOH + they own shares. Thus they are not independant.

they will feed the job to a Mid Tier Accounting Firm Corp Adviser (to save 20-40k on the report). This will most likely be a friend/aqcquintance that a CS Director has used for years.

An opinion will most likely be reached prior to the report being prepared. The valuation shall be to the mid range to lower range to what people are expecting given the current market. What ever your big expectations are... half them and you are getting closer.

I do not think Xstrata are going to walk away, but the deal isnt going to be as ground breaking as many think. It is the way of the market.