0912 [Dow Jones] WMC Resources (WMR) remains under focus, with group likely to lodge target's statement with ASX as early as today. Document expected to reiterate advice urging shareholders to reject Xstrata's A$6.35/share takeover offer, which it has labeled "materially inadequate". Investors speculate release of report could be catalyst for a counterbid by either BHP Billiton (BHP) or Rio Tinto (RIO) as target statement may also include independent valuation. WMR last traded at A$7.22. (ERJ)
ADY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
