takeover talk

Whilst traveling to China with Mrs Lizard and the hatchlings I was starved of TIS news but did catch the odd share price. I was surprised and delighted to see that the share price rallied on no news (I would consider minor purchases by a director to be not enough to move the stock). So I was keen to get back onto HC to see what the prevailing view was. Is it simply that the fund has stopped selling, removing the stock overhang?

I also see that a few posts suggest a takeover is in the wind. This got me thinking, please enlighten me with your thoughts on the following:

What would be a 'fair and reasonable price' at which the directors would recommend a takeover? The stock floated at $1 and has had equity dilution since then, but given that a healthcare giant would only swallow TIS like Godzilla devours lesser lizards if it was a threat, fair and reasonable should be something in the multiples of $1, no?

And my second question is, if snappingiguana, the GL clan and a few other reptiles we know who hold over 1 % the stock (on a combined basis) don't like the takeover price, what % ownership would it take to force compulsory acquisition? My vague memory suggests 90%, but given that the stock is so tightly held this could be achieved without some of us thinking it's a great price to sell.

This is all premature I know. Someone on the trial could grow a tail and we are all left high and dry, or there could be some sort of regulatory snafu. In which case, I will go back to importing things that women want but don't need from china and pray for QE2, 3 and 4 from the fed reserve so that I afford that giant rock in the sun I have my eyes on.