Perhaps a few good examples would illustrate my point. Woodside...

Perhaps a few good examples would illustrate my point.

Woodside offered Oil Search around $7.50/share equivalent in 2015. Oil Search ended up accepting Santos’ $4.25/share offer in 2021.

AMP rejected a $1.85 takeover offer from Ares Management in 2020. Just over a year later, share price fell below $1.

Qantas in 2006 rejected a takeover offer at circa $5.50/share. By 2009, share price reached $1.57.

I wish Azure the best, but if it all fails, SQM’s $2.31/share offer could end up a distant memory - a bit like Mexico perhaps?