Ann: Outstanding Drilling From Essex-BLK.AX, page-63

Waldie,
If you are right - and I agree there could possibly be 3 or 4 big suitors running over their numbers right now - how are they going to get a toehold ? Surely , most of the shareholders know enough now to be patient and should not be rushing to sell.
In that event, I would envisage a takeover bidding frenzy, similar to the 4 month battle in 2014 for Warrnambool Cheese in bull market ( pardon the pun) conditions for milk in 2014 - when rival bidders ( Bega Cheese, Murray Goulburn, Saputo from Canada who won, and Lion doing a successful side deal ) went into frenzy mode.
If most BLK shareholders stay patient, hold tight, I expect bigger and better bids will keep on coming. The tighter that shareholders hold their shares, the more ballistic will be the share price escalations.
IMO, I would expect incredible SP heights could be reached because of the tightness of the share register.