Given that the Germans hold 15.02% in AYS (constituting a...

Given that the Germans hold 15.02% in AYS (constituting a blocking minority) which they've acquired since March 2017 at an average price of c. $1.60* and since they'll expect a healthy premium of c. 30% I don't think that a takeover can happen below $2.00 per share.

*) From the ASX announcments we know that prior to 6 March 2017 they did hold 1,440,000 shares acquired at an undisclosed price and that they've since added 30,211,434 shares for $48,176,728.79 which converts into an average of $1.5949. Assuming that the initial 1,440,000 shares were bought at a price of $2 the total average would be slightly increased to $1.6134.