Interesting closing comment in this article (link at bottom)
Quote But have Macarthur directors, while agreeing to the new offer, established a price for a rival suitor to top? Anglo American has talked the talk about diversifying out of South Africa and into Australia, now?s the chance for a major deal that will do that. Shareholders have a definite price they know they will get if a rival bidder doesn?t emerge. It?s probably on the cheap side given the blows to the company in the past year from rain, floods, storms and rail problems. Surely those woes won?t occur again in the next year? If they don?t and even if prices fall, Macarthur?s higher production and sales will ensure an increase in sales and profits. But those benefits will flow to the new owners, whoever they might be
