Today, It depends on the approach used.Using stealth to get the...

Today,
It depends on the approach used.
Using stealth to get the first 4.99% would be at about 5c a share.
At 5% they have to disclose the shareholding.
5% gets you in the door but no further.
Why go hostile? For a further 10 - 15% you get a seat at the table. That would cost max 10c / share for that portion.
So all up to this stage it would cost them 8c per share.
They could control future raisings at that point. And they will be at a lower price or with big options or both. The shareholder could then make sure any raising dont get away and the board has to come to them for loans or more dilution.

This scenario does happen. DYOR.

No board worth its salt would give up control for 30% over the current SP.

My thoughts.
DYOR