mercantile's intentions ?, page-6

LZA

My understanding is that MVT needs to make a takeover offer at 20%, otherwise there is a creep provision which allows MVT to accumulate 3% of MMX every 6 months.

If I look at the top Holders;
MVT 17%
Posco 13.45%
Ayersland 12.7% (who have only just recently started to accumulate shares)

They hold over 43%. I suggest Sir Ron has these guy's on his side as they too would want to maximise the return from MMX and not accept what the board has offered.