Depends on where the Bastion bid ends up. Possibilities are:
Zijin come out with a better offer that everybody (including Bastion) accept - game over.
You (you personally, rather than others) accept Bastion's bid before any counterbid is made by another party. Bastion get the benefit of higher price, you miss out.
You reject Bastion but no other bid arises and Bastion end up with controlling interest, You are stuck with Bastion calling the shots, whether you like it or not. SP will probably decline, especially so if their interest is markedly higher than 50%.
You reject Bastion but no other bid arises and Bastion gets more than 50% while overtime Bastion ends up with over 92%. They can move to a compulsory takeover which, if you appeal against, will take over a year before the Court sets a "fair" price should you or others not like Bastion's new price (i.e. not the original offer price).
You sell out with a market trade now and get your cash immediately, or sit and hope for the best.
Bastion fail to get over 50% and walk away. Everybody blames XAM Directors for stuffing things up who then go cap in hand to Zijin asking for a special deal, or else endeavour to raise funds to continue with the JV on a 50-50 basis.
XAM Price at posting:
7.9¢ Sentiment: None Disclosure: Held
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