can never rule it out, but the good thing is that they couldn’t move to mop up as SI has 12%, so it he is not on board I doubt the majority of other holders would be, and in any event couldn’t acquire 100%. I recall a mining company from a number of years ago ( Portman mining ), who took a 85% ish % stake on first attempt. Then after some time mopped up the remainder at a 6x premium To the first bid. Around $3 or so, which got a lot of take up, then $21 for the balance. seems unfair, but the weak kneed got done that time round. if it comes, and SI is a believer, we all need to hold the line. If he is out, might tell you something as well. I suspect, we will not get a cheap recommended bid. IMO.
Hostile takeover, page-2
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