It has all the signs of a hostile bid, and for investors it has come as a bit of surprise. I would expect this to go on for some time, and looking at the stock prices of the two companies, it seems there is more in it for investors.

Having activist shareholders out there really does embolden the aggressors because they know that when they make a hostile bid, they may be able to get more assistance from shareholders who flow into the stock than they had in the past.

We're in a skittish market and the last thing you want to do is surprise investors.

Trend is the friend in this market and certainly traders wouldn't like to bet against the commodity stocks in this environment.

I think there's still a little way to go. If you look at the personalities of the characters involved, there'll be a fair bit more to come.

There is now more of a balanced choice available between the management teams. But I still see shareholders sitting tight for the moment to watch how the battle plays out.