Lot of questions, but I'd ask 1. why they are so bullish on...

Lot of questions, but I'd ask 1. why they are so bullish on Lion. Why do they accept Lion shares sustainably worth SGD1 plus that they recommend scrip rather than cash and 2. if Lion can't actually afford a cash bid why are Lion dreaming about owning these assets? While you're at it, 3. even if it was an 18.4c all cash bid why should this be nearly enough for change of control here, hasn't sp been smashed to depression by JPM selling past months (and still selling) while things just starting to come good? Also, 4. what will Lion do differently once in control that management can't do now?