Just to be clear, MIN having a 20% shareholding "blocking stake"...

Just to be clear, MIN having a 20% shareholding "blocking stake" as some are calling it, does not preclude another bidder from having a crack at ESS to mop up the remaining 80%. The "blocking" really only means that any new bidder cannot compulsorily acquire MIN's shareholding in ESS. If MIN did not make a competing bid then it would need to consider if it wanted to be a minority shareholder (passenger) or sell their shares to the new bidder. If any new bidder came on scene and got 80% then ESS would be delisted from ASX and MIN's options for offloading their 20% would be considerably less. as trouser states above "To trigger, need a competitor loading up on shares, an off take agreement imminent, business decision from MIN that it needs the Lithium growth potential now or...." until then MIN will sit on it's hands.