I've never been involved with a company that was trying to be...

I've never been involved with a company that was trying to be taken over, so what do you think that would look like in this current position SYA find themselves? I am aware that LTR recently were offered basically double their share price in their recent TO attempt, but surely SYA would have to be offered more than double their share price. At double the share price we would only be offered around 11c, or worse still, if our share price was to drop to around 4c and then a TO offer was placed it would only be 8c. Both those offers would be lower than our asset value. Where would we stand as share holders to reject a low-ball offer? Would it be put to vote and what percentage would be needed to carry the TO. If PLL were part of the TO the I assume their votes would be included and count as "FOR". They could team with LG and go partners in running NAL as a downstream producer. Why don't SYA look for their own partnership with a chemical producer and mount a TO of PLL? I am interested in anyone's views who have a better understanding than myself of TO's.