If Anchorage are successful for AFJ then they would likely look...

If Anchorage are successful for AFJ then they would likely look to do a roll up of other parities build some scale and then re-list or sell the combined business.

You would think this puts TNK at #1 next acquisition target as part of the roll up.

If G8 miss AFJ then it's pretty likely G8 would turn their attention to TNK.

Surprised the stock isn't showing some strength on this news but perhaps waiting for results to confirm their FY expectations.

To me TNK looks cheap, provides good yield and is a potential takeover target from either G8 (if they miss AFJ) or Anchorage if they get AFJ.