Bil - do we thank Marius?

[DST]

They pull the bid for Rio, and are up 20%. If Bil is 1/10th of our market, that is around half the index move today. Where to now?

[asylum]

well im glad im in Bil and no Rio their shares down 36% tday on the news that the deal is off.

[#3]

up one more day and then down

[#4]

On that topic, can someone please explain why they are up due to the bid being dropped, particularly since the announcement seemed to have some negative connotations (reduced commodities prices, etc.)?

[asylum]

maybe shareholders felt that the offer made to rio was expensive.

[DST]

It was bid on a ratio basis, Salad Tim, and was skewed high in Rio's favour (to try and get them to vote it through).

[Project_Directo]

Rio was debt laden, current conditions made it impossible to offload junk. well done MR K. PD.