xstrata now winning

Another bidder is going to need to be quick, 26.77%.

Xstrata probably prepared to take what they get this time, with/without extension, and come back in 6 months to mop up a few more.

Insto's probably racing to get profit on the books for 30 Dec. Won't care if they pass CGT onto individuals.

Private investors, with the tax more visible likely to be reluctant sellers imo.

Now they have momentum Xstrata better not to buy on market, let the price collapse scare insto's into capitulation.

EL