James Thompson

You've nailed the dream deal.

And I think any deal is going to have lots of complexities around it.

A lot of people didn't like BHP's bid for Anglo-American because it was complex.

And Olivia Markham basically said, these are big boys and girls.

They are used to doing big and complex things.

Spare me this complexity argument, please, which I think is fair enough.

I think the problem's China.

I mean, you make a really good point, Anthony.

The Chinese are running a steel mill cartel to heavy Australian iron ore miners, but they would hate the idea of two Australian iron ore miners getting together to heavy them on the other side of the table.

With China Inc.

being a shareholder in Rio Tinto, I think that is a big stumbling block for that deal.

But I agree with you.

I think it's going to be put back on the table.

I could even see Rio and Glencore's abandoned bid being reheated at some stage.

Yeah, Olivia Markham's really changed my mind about or changed the way I see this.

I still see great risk and danger in these complex deals after a decade of simplification being the name of the game.

but you know times change and the world's changing so let's see where it all goes Anthony I don't know about you but all this talk about big numbers and big assets and the hot Pilbara it's making me a little thirsty

Yes, grab a glass for our second topic, and we're going to dive into the world of liquor.

This week, we got the new strategy from Endeavor Group CEO, Jane Hurd Liquor, whose company owns bottle shops, Dan Murphy's and BWS, as well as more than 350 pubs.

Now, Anthony, this business used to be owned by Woolworths and was spun out as a separate company in 2021.