Ann: IGO: to acquire Western Areas via board recommended scheme, page-72

Oh I think you are wrong there
BHP has dibs on the cosmos mine, Mt Keith mill nearby
Easier & cheaper to use BHP there than build your own plant at $400M like they did at Nova

The refining plant will be at Nova not at Cosmos so you got the geography all wrong.
WSA FF ore will go to Kambalda or Nova mill now, if IGO block BHP BHP will bid for them.

IGO may bid for PAN after this is done also to become a massive rival to IGO
BHP then likely to bid for IGO in future imho and wrap up the monopoly up once again.

Who stands in their way?
AF, haha,
he has been sidelined in Noront WSA IGO POS PAN MCR AGO Ravensthorpe ANL/MM... the list goes on, they just ignore him now, no amount of money will the big boys accept from him due to the past history.
Even if AF counterbid at 3.50, IGO can go up to 4.00 using bond debt and AF like with AGO will likely flip for a 25% pathetic margin, thats his only tactic left here,
AF has lost ANL Ravensthorpe Noront AGO IGO WSA MCR PAN....
AF the trader, LOL.

BHP IGO Glencore FQM Gina do not want AF on their share register at all. Hence cash bids for WSA AGO ANL.

There is no other white knight, IGO is it imho