Hi @Seano180, I was going to respond to this when you first...

Hi @Seano180, I was going to respond to this when you first posted it but got distracted by Gops never ending stupidity.

There is no particular rule when it comes to takeovers. They can be all scrip, all cash or a combination of the two. They can also be done on market (where the acquirer needs to reach 90% in order to reach compulsory acquisition) or via a scheme of arrangement whereby the board is in favour and it gets put to a shareholder vote with a 75% hurdle level. If someone like PayPal were to launch a take over for Zip it would likely be done as all cash, whereas a smaller acquirer would be more likely to use a scrip component. The use of scrip is also more complicated if the acquirer is from offshore, but I'm not an expert in this area.

Valuation is a very difficult one for a company like Zip which is very high growth, and has extreme SP volatility. My gut feel is that it would need to be at $15 or more, but so much would depend on the position of the founders.

I also think buying Zip would make a lot of sense for Klarna as it would not only fortify their position in the US but it would also provide them with an opportunity to damage Afterpay in its most profitable market (I'm sure that's why they came here originally but their efforts to date seem to have been a resounding failure). The other potential suitor (IMO) is Affirm, although their whip-sawing SP might make their management less likely to undertake a risky takeover process.