How a demerger and IPO affects existing shareholders, page-35

Might go like the SQM deal with KDR, before WES later replaced KDR altogether in the equation? That exercise involved 2 offers and their 2 leg ups! A big difference here though is that LTR management seem much keener to take this project through to production & even processing than was evident from KDR's management which were more inclined to take the money offered and move on elsewhere. LTR have a more serious attitude and end focus I think, but then nothing changes things like a deal that is just too good!