riversdale stand off, page-9

Hi Bund...I was just reading the following article:

http://www.theaustralian.com.au/business/mining-energy/rio-tinto-extends-riversdale-bid-csn-continues-to-increase-its-stake/story-e6frg9e6-1226003576886

No, I do not believe that CSN is just after a profit on its RIV investment in the short term...they would be after some sort of agreement that can only be secured after the corporate actions now underway. I imagine your point is that a trade of 3m shares does not mean much in the takeover scenario unless one is after a short term profit...if so, you could be right.

What I am saying is that a 3m share purchase must have been done by either an existing holder (but not CSN or Tata), or a new entrant (unlikely). What would they expect to get out of such an investment? Other than a profit in the short or long term, I do not know. This may sound confusing and I guess it is, but if the large buyer today was not Tata or CSN then who was it and why?


regards
DF