Probably me as much as you. Gina's offer can collapse but is...

Probably me as much as you. Gina's offer can collapse but is unlikely, if Atlas are insolvent, issue new shares or sell a major asset (or similar). Redstone will buy anyone's shares who accepts and sends in their acceptance at 4.2c and (I think) if they increase their offer then anyone who accepts gets the better offer. They need 90% to compulsory acquire but can change constitution if over 75% (happy to be corrected on this as I haven't seen it before from this angle) . If they get over 50% they get control but have to act in best interests of shareholders (although that is very ambiguous and I bet it means we can be treated poorly as long as the reason sounds decent). For sake of argument say they get 55% FMG hold 20% and most remaining other shareholders hold then they will become fairly illiquid. The speculative element will reduce but I am not sure how it would play out from there. There you go clear as mud.