Ann: Western Areas & IGO Agree Increased Scheme Consideration, page-22

I hold PAN. They are probably also a target for a takeover.
I was trying to work out if the WSA takeover is a good thing or a bad thing for WSA holders.

First WSA announcement was made in August 21.
PAN restarted operations during this period and are still ramping up to full capacity.
The graph provides one view of the effects of the takeover on the WSA share price.
Would the WSA share price rise if the takeover was to fail?

Discussion and counter comments are welcome.