WOW is there ever a lot of rhetoric, nonsense and misinformation on this board. Let’s start with this line, “Cliffs has made their $commitment, because they are experts in Chrome and know what's in the ground...”
I have visited the Cliffs website and no where does Cliffs mine Chromite, at least they don’t list it in any of their 12 mining projects around the world. So what makes them experts in Chrome?????
I also believe some are mudding the water about what NOT is saying about legal action or changing of FWR’s rights plan. First off if NOT does not get at least 66 and 2/3 of FWR shares tendered, the whole issue around the rights plan is mute. No legal action would be required the deal is dead.
Some are talking like NOT now has to sweeten the pot as the FWR BOD have issued a press release advising shareholders to reject the NOT offer. Again this is only advice the FWR BOD’s and it is up to the individual share holder to make their own decision. We will not know the out come, and no other offer is required by NOT, until the deadline has come and gone. It is only after the expiry of the offer and if unsuccessful that NOT would need to rethink and potentially sweeten the deal.
If and I do mean if, (only because so many believe Cliffs is going to make a move for FWR) Cliffs put some kind of offer on the table, NOT would still not necessarily need to sweeten the deal, all they would need to do is increase their share value thus increasing the value of FWR. This of course would depend on what the deal was from Cliffs.
Let’s keep it real and at least some what factual.