Galaxy Resources Take Over

I realise we have been here before.

Like many of you I am a little surprised as the market reaction.

Though we did slowly step up during the day and the overall volume of shares traded was around 3x the daily average.

What I cannot understand is why a company that will end up with $500 million in the bank (probably more) with continual cash flow from Mt Cattlin remains at a market cap of near $1 billion.

It doesn't make sense.

Why would POSCO not say "Well we can just take these guys over for a few billion. Get our cash back and then build all of these assets ourselves which will appease our own holders. Then we will also have ownership in Lepidico and see what happens there?"