No way LPI's board would accept an offer of 50c or even be in discussions with Codelco if that was the price. They would not even put that offer to shareholders.
This news story could be good to get the share price to jump to close to 50c tomorrow. Any takeovers after that would be in comparison to a higher share price and look like less of a premium. A takeover price of $1 would show as a 186% premium right now, probably looks too high to an acquirer (even though it really should be based off NPV). If we get to $0.5 tomorrow $1 is a much more manageable 100% premium.
The 1 million block of shares traded this arvo was interesting, something might be going on.
LPI Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held
