Milsey wrote:

I for one would think that NOT fully expected that a counter offer would be tabled. Having said that, I am not so sure that they would have envisioned an offer as "opportunistic" as there own. Cliffs offer certainly leaves a whole lot more wiggle room for NOT either via more great news and resultant S/P appreciation or re-structuring of the offer. (or both)

Right on Milsey.

Clearly there will be other offers from both sides and possibly from another major before this is over. This play could drag out until next summer.

There are many surprises yet to come and the sp of all RoF players can only benefit.

SN