Honestly, I find it bizarre how many people believe that the Board have tactically stated that they'll accept this takeover offer trusting that the independent expert recommendation, or shareholder vote will knock this back.
What are the chances that the Board of a $6.6b company are happy to leave their future to factors completely outside of their own control.
Shareholders typically vote in alignment with the Board, and there's no confident forecast as to what the future price of lithium will be. I think it'll be strong enough to make me money, hence why I'm invested in the sector. However, all it takes is a conservative Spodumene price to be assumed in their assessment (which I dare say is inevitable), and ALB's valuation will look attractive.
Ann: Revised Proposal from Albemarle, page-866
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