takeover target , page-8

IMO unlikely.

Hostile takeover bids are invearsingly rare these days because it is very risky to the party making the takeover in terms of outcome, pricing and cost. Most attempt to do it by way of a consensual scheme of arrangement with the support of the board. This would almost certainly be the case with SLR because of the large director related shareholding. What that all means is that the acquirer would have to pay a premium which is acceptable to directors and the vast majority of shareholders.