Remember these comments from the Hoffman article :

“The risk that there is another bid is quite a real one. You look at the break fee and the private placement and it certainly looks like Kinross is trying to protect themselves from a competing bid,” said Charles Oliver, a portfolio manager at Sprott Asset Management, which owns about 10 million Aurelian shares.

Ok, but why make a competing bid for ARU? Why not just let the deal go through, then buy Kinross?

ebear