Likelihood of offer price increasing?, page-156

Based on Adesso's approximation, as below:
SQM - 20%
Gina - 18%
CE - 12%
Creasy - 13%
Germans - 11%
TR and friends - ?%

Roughly 75-80% in the hands of these five.

Any bidder can still get more than 50% of AZS if the bidder bought 40% of MCreasy's shareholding and the remaining 20% of 60%.

20% of 60% = 12% + 40% of MCreasy = 52% ownership

Note: MCreasy can still keep his 13% of 60% ownership.

So any company is not too late for a possible 50% or more ownership....Is my understanding correct?

We can still be expecting a knock out bid price

dyor