I think that an offer in the $2-3 range may be a sufficient...

I think that an offer in the $2-3 range may be a sufficient figure for a takeover. But it is like you say, a big premium to the current share price.

Perhaps the buyers take the view of looking for a better opportunity when markets pull back a little. The sector is quite 'in demand' at the moment. I can see BND slowly suring up resources and port allocation though and hopefully the price will appreciate accordingly.