Ann: Becoming a substantial holder, page-38

"Think of it as a stampede effect because of Rinehart’s Liontown intervention. But the way the SQM bid(s) is structured means the offer will play out differently. If the $3.50 takeover bid comes into play, SQM will buy what it can without conditions.It could be that Rinehart likes the thought of partnering up with SQM at Andover through a 19.9% Azure stake. What is more certain is the Azure board unanimously recommends the SQM approach in the absence of a superior proposal."

https://www.livewiremarkets.com/wires/lithium-sector-salivates-as-azure-bid-set-to-unlock-flood-gates-on-1-6b-in-invest