Can Pilbara Minerals be a takeover target?

Is there not a thesis whereby lithium downstream players (which seem to be more financially loaded) will be taking over upstream players rather than the other way round, i.e. upstream players seeking to diversify by moving downstream like Pilbara Minerals? Moving downstream can be as capital intensive as opening a whole new mine. With the raw materials from the mines being at one of the lowest price points, surely this has to make some business sense for downstream players to make a move? Why have we not seen any moves from them?

POSCO buying the parcel off Galaxy is one of them? But then, that's more of buying acreages rather than a producing mine. Wesfarmers purchase of KDR is purely a conglomerate trying to get exposure to lithium. Also, surely there is a strategic reason for downstream players IN ORDER TO avoid upstream players building more battery conversion capacities, should just take-over the upstream players to reduce competition? Is there any transaction that has been downstream players taking over upstream mines recently? If there has not been one, will Pilbara Minerals be the first one (considering it's an operating mine)?

Another thought is, from a location perspective, seems that the mines of Wodgina, Pilbara Minerals and the Altura mines are all not too far from each other. Any possible strategic combination of these 3 assets together? How far are they from each other that they can't work with each other?

Will CATL or POSCO put up a takeover offer for Pilbara Minerals eventually? Or they are happy with just a small stake?

Thoughts on the above guys?