I'm not sure what any TAW holder would be congratulating themselves on? Maybe this is being dressed up for a takeover under Singapore rules. But we cannot know if something is being cooked up that will impact retail TAW shareholders negatively either. But I suspect more of the negative with such a negative deal being recommended.
Holders in Singapore had positive optionality towards a deal like this, and have received a freebie as their SP was valued lower by the market for whatever reasons. TAW holders had negative optionality. Very obvious! If Singapore holders judge that their shares are overvalued now, they will take advantage and sell, and drag Tawana's SP down as they do so, as a victim of the same arbitrage that has lifted their SP.
I shorted TAW, as I could see good odds of a lower SP. The trend for Li stocks isn't great ATM either.
TAW Price at posting:
42.0¢ Sentiment: Sell Disclosure: Held