Could Teoh pounce on VOC?

I know we have a lot on our plate but David Teoh is pretty sharp.

A scrip for scrip merger at a 20% premium to Vocus' current share price would equate to $3 per share.

1) He gets his entry into NZ
2) He has a larger Australian broadband customer base to sell mobile into
3) Vocus' margins are worse than iiNet - he will know exactly how much they can cut
4) Additional fibre assets transferred into the merged entity may enable TPG to cease supplying Vodafone with backhaul. Vodafone would not be able to compete period. (For those who remember just how bad the network was)
5) If someone outbids him, he can flip his stake for a profit.