would you sell your house?, page-26

ACB says ...I haven't seen a whole lot of takeovers where the first bid is the last bid.

Keep up the good work Col.

Mozart says ..."I haven't seen a whole lot of takeovers where the first bid is the last bid."

..or where the second bid is lower than the first


Chinkiat says that what Mozart and ACB say is true but would also add that he has not seen a lot of takeovers where Management come straight out and support the offer and say take $1.30.

With the turn over in shares at 1.26-1.27 since the offer was announced there is now a sizeable block in the hands of "short termers" who will take the $1.30 offer if nothing better comes along.

I cant see the Chinese getting into the game here. They are having speed bumps thrown on every road they take whether it is FIRB, railway access or simply a couple of formidable heavy weights in their own backyard in BHP or RIO.

This game is over .....

The best any holders can hope for is that the guys who have been buying madly at 1.26-1.27 go and tap BHP and say if you sweeten the bid to $1.40 you will have our block of shares tomorrow and maybe BHP will pay up for the priveledge of putting the deal to bed.