"If ALB do their due diligence and give it the tick - in the absence of a superior proposal, the board will recommend the $3" [and] subject to an independent expert concluding (and continuing to conclude) that the proposed transaction is in the best interest of shareholders.
To me the inclusion of the "(and continuing to conclude)" statement means that this expert will produce a report at a given period of time and then monitor spodumene/carbonate/hydroxide prices after that - both the initial report and a rising spot price gives the BOD two possible outs to reject the $3 offer
Ann: Revised Proposal from Albemarle, page-347
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