Thursday, February 14, 2008


Take a look at this story and the cartoon accompanying it:

From Creamer Media's Mining Weekly Online
By: Darlene Creamer
Published: 15 Feb 08 - 0:00

Diversified miner BHP Billiton’s offer of 3,4 of its own shares for each Rio Tinto share has failed to impress Rio Tinto CEO Tom Albanese, who continues to maintain that the all-share offer under-values his company. Both Rio boards aver that BHP Billiton’s offer, “while improved, still fails to recognise the underlying value of Rio Tinto’s quality assets and prospects”. Once again, they have moved the queen in this fascinating game of corporate chess.
No, I didn't catch this article because our investment club is thinking about purchasing some shares of BHP :) What I want to know is - where's the queen? In the cartoon the bishop is saying "check" - but obviously, only the King can be in check, not the queen. Er, I think the writer rather missed the point of her "move the queen" analogy...

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