APY Mentioned in The Australian, page-32

Couldn't agree more with both of your analyses.
I doubt consideration would exceed 50% of issued cap - and even then on a staged basis with an initial scrip payment followed by a couple of milestone performance issues (this seems to be the trend with every other RTO).
I doubt there'd be any monies paid as all monies would be used to progress the company being vended in.
Consequently, there's be no further dilution from a cap raising.
Hopefully the quality of any deal should be enough to get the price over 2c.
I don't know the full implications if the price doesn't exceed 2c as there'll be no CR IMHO.