Xstrata's Plan B: Dryblower

UNTIL yesterday, Xstrata’s Mick Davis must have been savouring the steady decline in WMC’s share price towards his $7 a share cash offer, a number now completely blown out of the water by BHP Billiton’s inferred cash counter bid of $7.85.

If, as the weight of capital indicates, BHP Billiton wins the day with WMC then Dryblower reckons that life changes completely for a lot of people in the mining game.