piece from today's iluka announcement, page-4

Hi Peppie,

What's your view on ILU potentially taking over IDM. With IDM's current market cap and long mine life. A takeover of IDM by Iluka would solidify ILU's dominance in the mineral sands game.

Can only imagine that IDM management will not give it up so easily though and how regulators would see the potential takeover.

But with ILU strong balance sheet and IDM's very depressed market cap, sounds like a good combo for a takeover.