rival bid, page-8

Hi all...

I mentioned a while ago that an increase in the bid price could not be ruled out in the absence of adequate acceptances. Can anyone tell me what, if any, regulations there are surrounding the disclosure of acceptances on a conditional bid before the due date. I would have thought there would have to be disclosure above a certain threshold of materiality.

I am thinking that so far there is unlikely to have been a material volume of acceptances and that may explain why there has been no disclosure. As it gets closer to the due date the lower the disclosed volume of acceptances, the higher the chances of an increase in the bid price. RIO would not have gone into this process without contingency plans and they are very very unlikely to pull out without a concerted effort to gain control.

Anyway, if someone knows more about the regulatory requirements, if any, please advise.

regards
DF (still holding)