"Notice that house 014 and 084 are both ITG!! If they're also trading under anon, then they are doing a good job of keeping us down .....for the moment."

All they need to do is keep it down for the alloted time to form a premium on a very cheap sp and then when they are ready they put out a very silly and insulting offer. NOT needs to get the sp up on a staggering N.R. with honking big value followed by a huge assault on the ask before an offer is able to be made. It's possible that NOT could follow an offer with this kind of news but I'd rather see it before....if it exists. I think that if NOT has any savvy at all they would be holding a trump card for just such an event. Perhaps Baosteel is really the only trump card they think they need. We wait to see.