Quote Originally Posted by steveb View Post
Surely the only way Bluescope could go forward would be through a hostile takeover.They could hardly approach STU with $1.75cps as they have already rejected that price.If the 5c dividend is still on the cards,then Milford have not done very well out of this if there is no escalation clause.
So to me it looks like a blocking position,if FBU still want to do something they would now have to go to Bluescope,so win win for Bluescope.
Bluescope probably wanted to snap something up fast, Milford clearly wanted out fast.
Bluescope porbably now assessing their options before mounting any further moves, as is FBU (and, indeed STU!)

Intriguing, the takeover story is far from over it would appear!