I miss sparing with yeah Sum so no worries!

(and Baosteel) must be foolish...

well, they purchased NOT shares at 86 cents for a grand total of 17.4M. At 86 cents, this is a great investment as they have long lead times (as opposed to some retail investors who can have shorter time horizons for ROI) and is a strategic investment for their overall Steel business. This buy in was supported by the BoD and was not going to start a bidding war. This was a very different scenario than a buyout which is the situation we are now discussing.

Different place, different time, people are a lot hungrier, the world is in major financial crises...I wonder if these will factor in for a different equation.

The world being in a major financial crises could cut both ways and make companies more careful. However, I think the EU getting their house in order and signs of improvement in the US economy may calm the waters for at least a few quarters giving us a good investment environment...it is nice to start making money again theyse days!

Glorieux