SQM baked in a condition which dictates its binding scheme bid won’t be valid if any shareholder, other than itself, acquired a greater than 19 per cent interest in Azure.
Should that happen, SQM’s bid would switch to an off-market takeover, which is not subject to the 19 per cent condition. We’ll call that bulletproofing the deal against Rinehart’s lethal playbook at Liontown.
