Agree Icey.The original poster completely overstated the case.SD...

Agree Icey.

The original poster completely overstated the case.

SD won't do anything illegal. With 51% you do not need to. The problem people have getting their head around is just how convoluted transactions can be, investing here, buying equipment from there, taking loans from somewhere else, using hedges, getting into JV with other parties. It doesn't take long to become opaque. Having 51% allows all this.

There will be other takeover deals, but self-imolating on the first one that turns up doesn't make sense. If SD fails because of a no, and subsequently a low ball offer comes in, who will it come from? Unlikely to be Chinese as Central Planning in Tianamen Square isn't going to allow China to bid against itself, so SD will have to either fight of a different foreign based owner, of offer us at least 5c.

If they are the low ball bidder, after saying 5c was fair, there would be revolt and everyones misgivings would have been proved correct about their intentions to rape and pillage, or at least not give 49ers their due. So anything less than 5c from them wouldn't stack up.

Everyone needs to think more strategically, not knee-jerk.