My gut says it will be a T/O. The ASX / Takeovers panel isn't going to allow control to go to a big player and screw over the little guys. I hope.
However, and I really hope i'm wrong, I don't think we are going to be anywhere near $1. I just don't see them paying 4x to market... I hope I'm wrong. But i've never seen an example on the ASX where someone has paid more than 70 or 80% in cash, generally 30 - 40%.
I hope I'm wrong.
CXX Price at posting:
23.0¢ Sentiment: None Disclosure: Held