Ann: WES: Proposal to acquire Lynas Corporation, page-28

An opportunistic bid in an effort to buy Lynas at less than 50% of fair value. The MW resource is worth much more than the bid price. Add in LAMP plus the IP that has been developed, none of which has been factored into the analyst valuations.
The full benefits of Next still to be quantified, particularly COP.
Yes there is the jurisdictional risk to be factored in which I expect to be sorted by agreement within next couple of weeks or its off to Court we go. AG has probably already told Minister Yeo she will be defeated hence the need to change the Act.
IMHO anything less than $4 offer is seriously low ball particularly given the operational and license conditions included in the offer. Remember Lynas was trading at close to $3 before the GE18 result. Also that was before benefits of Next were delivering profit and cash.
Just hope our Board steps up to the mark and defends this bid and negotiates a fair price for long suffering shareholders.