Will be interesting to see (if it ever eventuates) how SQM gores...

Will be interesting to see (if it ever eventuates) how SQM gores getting FIRB approval. Looking at the language in the release the company was emphasizing that the approach was quite conditional with SQM obviously wanting all the current data and interesting that part of the conditionality was assumptions about Li prices so maybe they were thinking of a cash offer that varied or allowed for different Li prices?

I think surely SQM know by now that their Chinese ownership is a show stopper for a total control transaction, so the presumed sell-down and conditionality of the approach at $2.30ish is just an attempt to buy time until the future of Li prices becomes more clear, and to anchor the AZS share price in this region in the event that further exploration success in areas TA2 and TA3 might send the AZS share price to the moon, and out of reach of SQM.

As others have pointed out, the ownership by Creasy makes this situation a bit different to other M&A stuff.