I think PEAMCoal may up the offer to $17 and call it FINAL in order to flush more share holders who have been holding out in accepting before the deadline.
At 20 something % so far, they won't get to 50% unless they up the price.
I think $17 is almost a certainty, the question is will CITIC come to counterbid.
Perhaps the Chinese approval is a reflection of CITIC about to lauch a counter-bid.
I think in that circumstance, holders who have accepted have the right to withdraw their acceptances.
MCC Price at posting:
$16.03 Sentiment: Buy Disclosure: Held
