I my opinion, a price for GCL takeover would be around $8.50 to...

I my opinion, a price for GCL takeover would be around $8.50 to $8.80 mark.
Felix was taken over at around a 15.5x multiple and applying this to GCl's 2011 forecast EPS, it would put the bid around $8.80.

A 30% takeover premium to GCL's last traded price would put it around $8.50.

Although MCC is touted as the possible acquirer, I think there's scope for other players to come into the bidding process, e.g. New Hope.