Why would BHP increase their bid before Wyloo commits?

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Hobbit

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Why would BHP increase their bid before Wyloo commits?

posted on Sep 02, 2021 03:27PM

I firmly believe NOT and the ROF are worth many multiples of the what BHP has offered and what Wyloo says they will offer. But, at this point, why would BHP increase their offer?

From BHP's perspective, Wyloo is just playing games (after all, the current value is pocket fluff for both of them). If BHP inceased their offer, in hopes of getting more shareholders to tender their shares, wouldn't Wyloo just counter with another "indicative" offer, to discourage anyone from tendering?

Surely BHP will wait until Wyloo commits and then the real bidding war will start?

Or am I overlooking something?

Thx,

Hobbit
One ring to rule them all

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