(ASX:NWE) Among WA Billionaires at foot of world-class gas play, page-507

I think CHATGPT 90% right, Barney has a point too.

More from ChatGPT, gave it a scenario, it is pretty impressive...

Lets say Mineral Resources has a share price of $85 and Norwest had a share price of $0.061 and the offer was scrip 1 Mineral Resource for 1300 Norwest shares. If Mineral resource shares went up to $100 during the bid, what is the maximum price Mineral Resources could buy on market.

To determine the maximum price Mineral Resources could buy on the market, we first need to calculate the theoretical value of Norwest shares based on the exchange ratio offered in the scrip bid.

The exchange ratio offered in the scrip bid is 1 Mineral Resource share for 1300 Norwest shares. So, if Mineral Resources' share price is $85, then the theoretical value of Norwest shares based on this exchange ratio would be:

(1 Mineral Resource share / 1300 Norwest shares) x $85 = $0.065

This means that Mineral Resources could theoretically buy Norwest shares on the market for up to $0.065 per share and still maintain the same value as offering 1 Mineral Resource share in exchange for 1300 Norwest shares.

However, if Mineral Resource's share price went up to $100 during the bid, the theoretical value of Norwest shares based on the same exchange ratio would be:

(1 Mineral Resource share / 1300 Norwest shares) x $100 = $0.077

This means that Mineral Resources could theoretically buy Norwest shares on the market for up to $0.077 per share and still maintain the same value as offering 1 Mineral Resource share in exchange for 1300 Norwest shares.

Again, it's important to note that the actual market price of Norwest shares may be higher or lower than this theoretical value based on market demand and supply dynamics. If the market price of Norwest shares is higher than $0.077, Mineral Resources may need to pay a premium to acquire Norwest shares, while if the market price is lower than $0.077, Mineral Resources may be able to acquire Norwest shares at a discount.