"Think of it as a stampede effect because of Rinehart’s Liontown intervention. But the way the SQM bid(s) is structured means the offer will play out differently. If the $3.50 takeover bid comes into play, SQM will buy what it can without conditions.It could be that Rinehart likes the thought of partnering up with SQM at Andover through a 19.9% Azure stake. What is more certain is the Azure board unanimously recommends the SQM approach in the absence of a superior proposal."