You don't think SQM would block a scheme of arrangement?
It would be practically impossible to get 75% shareholder approval without SQM. My take is SQM wouldn't necessarily be interested in the cash (although everyone has a price). Their interest is a 20-30 year supply of the raw material of which they already have offtake rights for 25% if my memory is correct.
SQM are in the box seat to do a takeover if they can convince Creasy to sell his stake. A takeover by SQM would then have a pretty good chance of success in my opinion. Are they motivated to do that? I would argue they may be satisfied to sit on 20% of AZS and the 25% offtake rights comfortable in the knowledge that a takeover by any other entity would be difficult if not impossible.
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