Oct. 7 - Rio Tinto rebuffs Glencore's offer. Reuters Breakingviews says Rio's board can justifiably demand a big premium, or no deal.
Rio can call the shots and any future time I was doing -- lessons through the message from Matt Quinn web breaking news this morning often reared since very. I said -- to play in court from. I guess it's beyond all price. There -- good bargaining position. Well actually there and sort of awkward bargaining position right the design north fooling someone like to find here strikes -- what the peace is to -- say is that. Actually. You know if you are -- shall leave a beacon I think. Well francoeur is being a bit opportunistic and then meeting and a very. -- points for Rio and of course the idea of a manager is a little bit suspicious because he's gonna come out. On top cannot measure is it really going to be a tank cavern in which life in place and -- and his -- you end up running the bigger company and -- say the usual. Unit convention is that you only sell control for a kind of control premium that means a 35%. Increase to where have chest training at the moment. Not then turns this into a much bigger and more expensive dale took ankle which remember it has come up towards. Rio in market value -- there's still a smaller company with more debt. I'm I know who appears Ty Lawson and you're -- Korean Hong Kong do do a piece on this old spoke to our problem. Us about this earlier on Rio's rejection of the final word was was his -- promised and could go hostile. Well I would be sort of enormous me for an -- as they've tennis these small work sort of opportunistic. Deals of course the big deal -- it was taking out the rest of Xstrata but that was a different. Catholic faced this is they already they already had a 54% stake they already have this kind of cultural affinity with -- Xstrata which kind of assistance company. This would be an order of magnitude bigger and hardest stage say it might be that that was a -- and an amendment cost. Some. Of this idea of re years and this is -- and -- and the racist or rears conservative culture. Clashing with an aggressively entrepreneurial. DNA of playing -- I guess this is one of the talks tough parts of -- any -- -- linkup between these two as well. I think so yes I think there's a feeling that really sort of minor with the story. History and real expertise in geology and so on Mars. Thanks for these kind of Bakken airing traders are able to kind of exploit price arbitrage differences all around the world. So so your headline I'm -- who can dig in against him -- Tom how deep can they date how long can they wait. How likely is it that peddling cold give up Austral. Well the main indices we know like discussions say it may be that this is where it stands the question for you is when the final price. -- used to in the future if it continues to tank remember this is almost. Or of the kind of operating profits of -- at the -- and then they'd come on the more more pressure I guess. But the mighty thesis is. The board was justified in some sending them away with a -- in the air about the idea of dementia. And can continue to do take that starts to protect Clinton's -- is on the F breaking news web signs. Com if you wanna watch the Asian shaken from -- on the have a powerful we can also find on the breaking -- -- the US says -- and east and some infant bsc. -- -- --