Value Microcaps Motherboard

[riskanalyst]

LIM - Handicapping the situation...

I expected a higher counter than CAD 18.5 and was pleasantly surprised with CAD 21.5 and CAD 25 offers. Now we are trading at CAD 27.35, which is 9.4% above the current offer. Reading the enclosed article...

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070516:MTFH15430_2...

makes you think Norilsk will come back, but the CEO's comments almost seemed to concede defeat. Anyone else think that way? Or do you feel the Russians will be aggressive considering they are a private entity and will not have as much scrutiny for paying higher prices. Xstrata's extremely high break fee (as % of deal) seems like a scare tactic. The article states 6.5x EV/EBITDA on a 20% higher offer than Xstrata's current bid. Seems entirely reasonable 7x would be getting kind of high and 8x would be getting stratified. Thoughts?