A Chinese takeover would be more likely to receive regulatory approval and would have less political backlash if the assets taken over were clearly defined and not all encompassing.
By relinquishing the Galilee tenements WCL is reducing the likelihood of "redneck opposition" to a takeover.
It seems to me this proposed takeover might be the one - third time lucky - but the offer price will need to be in the 40s.
Just a thought.
A Chinese takeover would be more likely to receive regulatory...
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