I don't think Xstrata are going to do anything apart from walk away with a cheque.
I don't think Xstrata are going to do anything apart from walk away with a check. This bid is 21 percent above their initial offer (for 20 percent of Falconbridge),
Following the acquisition of WMC Resources we had been anticipating a very strong trading statement; what we got was a little more subdued than we had anticipated.
They're a bit more prudent than some of the other miners.
I would think it was unlikely they would counter offer.
Prices are well above fundamental levels. Global demand for copper fell last year by 1pc. Although Chinese demand was up 22pc, this was offset by a fall in the rest of world as consumers switched to substitutes.
