News: AZS Azure Minerals Updates On Timetable For Scheme Of Arrangement, page-14

It is a valid concern that FIRB approval be at risk. However the article omits that Tianqi owns ~25% of SQM, with Chile recently also concerned about control of SQM and unlikely to let that happen.

With AZS at ~3.33 ~11pc discount is pricing a large risk of the deal falling over, which may be overstated.

Given 40% ownership of the project will remains with Creasy currently, even if the takeover is successful, SQM will own a 50% interest of (60% of Andover) making it a 30% holder in the entire project and be a minority holder at best.

Guess not long to see which way it goes. DYOR