GMM GXY merge - give me a break, page-42

I don't own the stock, though have done prior to the restructure (lost $4k)
Having said that I wish I'd bought a few months back, better still 6 months back.

This takeover makes a lot of sense, GXY will be a far stronger company owning 100% of all projects.
The major problem will be getting the 90% acceptance level for the deal to go thru.
With the 1.65 offer price, GXY's close at 43.5c equates to GMM 71.7c, it closed at 71c, so very close
Trouble is, 71c is only a 15% premium to GMM's last closing price, so getting 90% will be hard

Having said that, intra day GXY peaked at 52c, which pushed GMM to 80c
I think 80c would get it over the line, 30% + premium.

The way i see it, GMM will trade at that rough 1.65 ratio to GXY.
They have nothing else but 50% exposure to part of GXY's assets, so will be stuck at that 1.65 ratio.
If GXY get any good news, eg higher lithium pricing, it'll push the sp up, along with GMM's & the deal will get done.
Somehow I think both managements know this will happen which will get the deal over the line. Otherwise why waste their time.
GXY's sp will also reflect the markets perception as to whether the deal will go thru.

I personally think this is a great deal for both companies, as do all the directors, remember GMM directors will lose their jobs or at best be demoted.
You only have to look at Tse's presentation to see the value of SDV, a combined company will own a higher percentage of this project, which is beneficial to both shareholders.
Remember also GMM's Fotios has $17m invested in GMM, far more than Tse's $4m in GXY.