P87, and why not? Everyone that has bought shares above about...

P87, and why not? Everyone that has bought shares above about 60c has/is paying a premium for the business.

Seriously, it's a sad state of affairs that the best shareholders can hope for is for their company to be taken over.

My bet is that ANZ would "force" the Board to accept any takeover bid, virtually regardless of price. Have no doubt, ANZ are not in FGE for the long haul, and will try and extricate themselves from the company at the first opportunity. Banks are in the business of borrowing and lending money (among other things), not owning mining companies.