Goal of acquirer is to buy for least amount. Where the share...

Goal of acquirer is to buy for least amount. Where the share price becomes irrelevant is when there is more than 1 interested party in a competitive sale process, then the "winner" aims to pay $1 more than the next highest bid (assuming it is still economically/strategically advantageous).

As a VC guy, I suspect Jim D has been thinking about how to create competition amongst buyers since the day he decided to list 4DS a decade ago. Dr W seemed to indicate potential buyers were known (ie already in the DRAM business with access to Fabs) and you could count them on your fingers (I cant remember if it was 1 hand or 2).

Last thought, what has now changed is 4DS is no longer on a annual share price cycle (ie capital raise,lot results announcement) where is made little sense to hold shares throughout the year (unless for CGT discount) as we had nothing to sell. Now we do. This means a TH related to acquisition process could happen anytime (or not at all) without warning. The stage of "Risk of missing out" has arrived! FOMO on!

Good luck all.