News: KDR UPDATE 3-Australia's Wesfarmers sees Kmart earnings drop in economic warning sign, page-6

I believe the TO has a 60/40 + chance of success. However, its the attitude of the KDR board that concerns me the most, especially if the TO falls over and no bother bidders appear. They seem to have lost the appetite & drive to take this project past the current impasse stage and into production as originally intended. I'm not even sure that SQM are still that eager to get cracking either for some reason? Maybe they want a JV partner with a fatter wallet and willing to play a lesser role?
As a precaution, I off-loaded a few KDR yesterday and found it interesting that while many algo sales are happily being processed at $1.887 or $1.885 in ridiculously small quantities, my own order attempt was not permitted with an SP over $1.85 and less than $1.90 - had to settle for the lower $1.85 to get my particular sale accepted. Another example of rules for some and the the level playing field I guess!