Nobody has any comments on my theory?
Here is a bit more logic:
Mr. Ding can pay $250m to bid CFE at 66c at fully diluted basis;
The break-even price for Mr Ding to bid is 86c if he want to get 100% of CFE, instead of 70% of one project for $250m. Anything less than 86c, Mr. Ding is in the money.
Why we fancy 80c+ CFE, and Mr. Ding cannot see it by himself?
no cash payment, page-16
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