Many were expecting BHP to bid much higher than Wyloo but why would they.  With this bid they increase from $.55 to $.75/share.  Appears all they really had to do is match Wyloo and use the "dilution risk" argument(which I think was an intentional dig at Twiggy) as it certainly appears that Noront BOD would have stayed with them. Wyloo, if bidding higher, will have to address this "dilution risk" comment. 

Companies don't get to be successful by over-paying in a bidding war for assets.  What if Wyloo now decides their $.70 bid was the top end of what they were willing to pay.  With the bad blood between these two rest assured had BHP gone say $1.25(which I believe was the top end of the original valuation by Stifel) Twiggy would have rubbed it in their face by saying they overpaid. We are at the personal ego stage now.

One thing we can say though.  The BOD hasn't worked this much in years...lol