It looks like the market needed some time to digest this news. 

To me the release during trading was not the proper way to inform.  For sure there was not equal chance to digest news and adjust bid/ask.  Bad BHP.....again.

With time it seems the market is bouncing back from the initial shock and awe.  This may have not been such a bad scenario as becomes possible to see with proper time which they gave no-one.

We may see the SP rise back to the low 80's in anticipation of a 'real' bid that may get shareholders to tender. Surely BHP/Wyloo fusion could afford to pay a reasonable price that might get holders to tender?  This fusion would be interesting for sure. 

Does Wyloo tender for a quick profit?  For sure BHP would have to make it worth their while.

Does Wyloo get the nickel and BHP get the chrome?  It seems Elon needs the nickel though.  Neither of these big boys seem to like following the leader.  Things could break down into a bare knuckle match.

We may see this magical third bidder who could be upping the bid behind closed doors.  This would be my preference!

They could both go home empty handed.

This seems far from over but still juicy.

GLTA

Ringer