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From today's FT:

BHP and Anglo American face crunch as talks fail to progress

Australian miner’s CEO is meeting Anglo investors as it seeks another deadline extension

https://archive.ph/mSryC

I’m 80% down here. My worst holding ever, by a country mile. I’m neither panicking nor bed-wetting, but I certainly won’t be compounding my error by buying more of this crud. Some people here are hopelessly optimistic and need to face the reality, that this is a failing company with an incompetent board.

This isn’t the Lloyds BB. Please can we stay on topic?

Doesn’t help that all the gains in the copper price of the last 5 days have been wiped out today.

The news hasn’t exactly put a rocket up the sp, yet. BHP, on the other hand, has reacted very markedly.

I’m sure it will recover, eventually, but I have a feeling it might see £8 before it sees £20 again.

They should start calling their updates ‘downdates’.

Thanks casapinos. I too hold BHP and AAL. My usual M&A strategy is to do nothing, which has served me well. That said, I've never held both target and bidder at the same time before. If a third BHP bid is successful, I might sell AAL (hopefully circa £30) and use the proceeds to buy more BHP while their price is down.

Anglo American shareholders ready to accept simpler deal from BHP

"BHP chief executive Mike Henry spent part of this week at a major mining conference in Miami, where he is understood to have taken soundings from Anglo shareholders about what price they would be willing to accept.

Part of the investor feedback is also understood to include criticism about the complexity of the deal.

Anglo’s management has rebuffed two bids from BHP over the past few weeks.

However, the Australian mining giant is widely expected to return with a third offer next week ahead of a Takeover Panel deadline on Wednesday evening."

https://archive.ph/DbJh0#selection-3203.0-3209.151

No new bid news, but copper futures are riding higher again (which is good news in itself).

I got out at £22 and I won’t be returning unless it is well below £10. Takeover is always a possibility, but the brand seems to have lost its way, so is probably not a prime target at present. I know nothing about fashion, but having seen some of the overpriced rubbish Burberry have been turning out of late, perhaps they should stick to their knitting and concentrate on developing their more traditional lines.

Lab diamonds cost about the same to produce as natural ones. When it comes to industrial diamonds there probably isn’t much difference between the two . Natural diamonds will always attract a premium, especially from high end jewellers, who would not be seen dead using lab grown diamonds.

We don’t know that the bidding process is over. If it reaches circa £30, this will almost certainly be cause for greater consideration, particularly from IIs.

If there were no market, they wouldn’t have bought it in the first place.

Capita Farm has been suffering from serious bouts of foot in mouth for 6 years now. This year may be different, but the odds aren’t good.

Yes, they ought to be throwing everything but the kitchen sink at getting Woodsmith completed and operating. They will get chump change if they dispose of it now, versus a one century money spinner, if they get it finished.

Glencore might make their move, now that BHP have had a couple of goes. I agree that it doesn’t really matter if the bidding dries up. I think that the diversity of Anglo’s interests, which are currently viewed as a liability, will turn out to be its strength in years to come. People are just too impatient these days.

….although BHP’s sp hasn’t budged, so maybe not. (Glencore is up too).

I wonder if the cat is out of the bag re BHP’s revised offer. 28p?

Every time I’m tempted to take a position here, I’m reminded of the woeful yield and how I can get more from a savings account (or a better yielding blue chip). Share buybacks are better than nothing, but a >5% dividend ought to be the priority for most Footsie companies these days.