I really don't know what the company will do. All I really think is that if the offer is not attractive then they should not rush at all to make an offer. In saying that though, I think a key component is an alternative tech. I think if they can get a great tech in a deal they may be prepared to go a little lower then originally planned. To me that would be ok, for anything else if AT is reading this I say with current financials time is on GXY's side.
A TO could be on the cards and I guess the success of that will come down to the 293 shareholders that effectively control the company. Many that are HC contributors. At this stage my thoughts are that I would strongly reject such an offer, but such a move would be good short term for the share price.
In terms of what other companies will do it really depends on time. At the moment with the battery supply bottlenecks in place I think the JV bidders think time is on their side and they will be exploring all opportunities everywhere across the globe very carefully. But as we head towards 2020 if these companies have not had an opportunity to lock in better opportunities elsewhere, I believe things will turn around and they will become more increasingly desperate to make a deal. What was it that I read the other day that Panasonic is at only 24GWh when they should be at 34 for supplying Tesla, can you imagine the impact on price if that 10 was actually in play now? Things would be so much tighter. The demand is there, the batteries are needed we just need companies to get the bottlenecks fixed.
We are currently playing in a dimension of 5sec in a battery cycle that will last a very long time. For those in a rush just think what that 5sec will look like on a chart in 10years time. This part of the cycle won't even be recognizable.
BTW I agree with your stance on the remuneration policy. I think the board needs to be aware that it has to lift its game and keep it at that level.
I hope I helped you with your thoughts.
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