I'm getting a sense that the SID has been choreographed well in...

I'm getting a sense that the SID has been choreographed well in advance.

First the initial announcement comes out sounding a bit like a done deal at $2.60...
Then the large shareholders say they won't support the SID at that price (hence the furious buying at or above the offer price by various entities looking to build a bigger stake).

The directors go back to Cyan saying "if you want to get this to get across the line you're going to have to improve the offer to X" (in my mind $3.10 - thanks for the helpful analysis @pilch ) which keeps enables the retail holders (like me) to say "Wow, thankyou very much!" even though in reality we probably could have done better....

This putsch could still fail but I think I'll just "hold & watch it unfold" because somehow I think there will be a better offer in time for the vote. Tempted to buy more but that's a risk I can't afford to take as this is already over 10% of my portfolio thanks to the last 6 months or so.

I'll be sorry if this company falls into foreign hands. This whole situation reminds me of the Tassal takeover in 2022....

Good luck to all holders and may the best team win