Today's press contained several articles that gave airplay to Riversdale CEO's comments that the company had not had approaches from another bidder. Frankly I find that a strange remark bearing in mind the company is prevented contractually from cooperating with any alternate bidder to RIO...so why would a prospective party telegraph their moves when they know they would get no assistance anyway.
In any event, I see today's selling as reflecting today's press articles leading a few retail holders to sell. Turnover is low compared to the 5m days when the price was closer to $17. I'm still holding and if I lose 25cents per share by doing so, then too bad.
regards
DF
rival bid, page-10
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