"proof"... wtf u on about? This is a dynamic situation with multiple outcomes, you're the one started making definitive statements "TLEA is off the table. They can't be making any move without first getting the agreement from MIN.".. I'm trying to be polite but if you want to share your opinion fine, but if you don;t know what you;re talking, make it clear to readers your just guessing.
Revising into a TO with 51% min acceptance (leaving the price at 50c or rising it) is TLEA nexzt move if still interested in 'controlling' the asset imho (if not outright). Suddenly MIN's 20% isn't such a block, shareholders still have the chance to exit at 50c+ as per current TO, non-accepting holders can stay and play with the big boys who decide how Dome gets developed eventually. TLEA has a deadline on accepting their next offer (maybe also a 'best and final'), so next time it's not an all or nothing vote. Don;t accept and you risk getting stuck in ESS if TLEA gets to 51%. Maybe they take ESS private with a higher joint bid in 12 months time...
TLEA going to a 51% stake also risks leaving MIN at 20% and the junior player which probably wouldn't suit Chris, so he is forced to act with a counter bid and it's auction time. Or he is willing to have a junior seat at the table and votes no hoping enough others don't like TLEA's offer, the 51% doesn;t get up until TLEA eventually walks. Given there was a significant number of holders not happy with 50c, I'm guessing TLEA raise their offer in acknowledgement to sweeten the pot (despite losing the outright control opportunity). TLEA may just walk, I'm not confident either way, just having a punt.
If holder's aren't uncomfortable as events unfold, I politely suggest they haven't taken a big enough plunge
GLTAH
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