"Why would ARU shares drop in value if Kinross gets the 50.1%??? Wouldn't they have to sweeten the deal to get 66.7% and then 90%????"

no

because all K wanted is 50.1%

it would slam the door shut

no other bidders will come after that, because they will never be able to get the majority of the shares

K won't ever sell....ever....

so they take their 50.1% and go home

we languish while the offer to buy us one by one on the open market

if they get their 50.1% we are dead in the water

we need another offer...and now

safeharbour