Seven Group Holdings: What price would they initiate a takeover?

I've done some back of the envelope calculations and I see that with the cash balances of SVW and SWM, and the 35% stake that SVW already has in SWM, wouldn't there be a floor price where the takeover is a high possibility?

I know it would be hard to get shareholder approval, but the remaining 65% of the market cap, with a 25% premium at SWM market price of 55c is ~$500m adjusting for SWM cash balance. Both companies have averaged over 500m in FCF combined last financial report, and SWM is actually a good cash flow earner, making a debt based acquisition viable.

I know 55c is still a 30% price away, I'm just looking at the worst case scenarios in this stock, and whether this would be a feasible factor in a floor for the stock.