Ann: Response to Media Speculation, page-49

Never get arrogant.

OSH and AMP are two examples that come to mind, of companies quickly rejecting takeovers - only to have their share prices halved and the acquiring party walk away. (In relation to OSH, I refer to the earlier Woodside takeover offer.)

SQM’s offer was very fair considering the early stage of discovery Azure are in, and the possibility for failures that lie ahead.

Now Azure must prove up TA1 and TA2 (at least) to justify their actions.