YANKUANG ENERGY GROUP ADR YZCAY

Xstrata to counter bid for Felix Resources

[Grebmoolb]

Some large trades totaling 1,994,452 shares on Thursday are pointing towards a counter bidder building up stock steadily. Yanzhou's bid of $16.95 is well below a few analysts valuation nearer $24 a share.
Whether this stock build is a counter bidder or another blocker building stock for the meeting on 8th December 2009, we shall wait and see.  Whatever way, Yanzhou have the ball in their caught and if they lose Felix Resources it is all down to them, it's their decision.

[Grebmoolb]

Yanzhou's bid of A$16.95 a share for Felix Resources all depends on Felix's vote of their shareholders at a scheme meeting on 8th December.  Felix directors have agreed to vote for the bid and need 75% in favor. Felix representatives are frantically phoning shareholders to argue their case as some say an x-director and two managers have not yet decided to vote in favor.  This