Ann: Trading Halt, page-81

If it is some sort of an acquisiton offer which you would have to assume is likely given the phrase "potential control transaction for the Company" the interesting choice of words might imply if it is an offer then they may be only looking at something over 50% and not complete acquisiton (perhaps influenced by FIRB considerations). If this is the case while I am very bullish about ESS's future the post "control" regime for retail shareholders might not be attractive. I am currently invested in 2 companies which have transitioned to one major shareholder which while under 50% still effectively have significant control given the remaining shareholders as mostly retail and the information flow, SP appreciation and market interest IMHO has been affected.

What price - I think it is difficult to see an offer price initially of anything over 80/85c given the current price, the recent high and the stage ESS is currently at. If a full take over it might get to $1 but I doubt that would be the initial offer.

Another possibility I suppose is that there is a proposal to strip out the Lithium projects to an new entity (with an appropriate payment to ESS) and the offerer takes up control of that entity with ESS retaining equity in the new Lithium only entity

Its going to be an interesting 26/4 for ESS shareholders - noting that whatever has been placed before the BOD is non binding at this stage presumably pending due diligence.