am69 - it doesn't seem to me this is a takeover. Will new shares not just be issued to AC to achieve the desired result - I haven't seen the detailed proposals?
I was only outlining the possibilities as I see them. No-one really knows what AC have in mind. The general point is that they will not want to share the spoils when the way they look at it is it's their money at risk.
They have a point.
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