rogerken...interesting question...however I don't think it would...

rogerken...interesting question...however I don't think it would happen because Mark Scott, one of the directors of JRL has a massive holding in EME himself and he would be keen to partake in the offer, so he would support the TKO offer.

oldsem...that is the key risk here, ie awaiting govt approval for TKO. That is why EME probably still at a discount to TKO offer, and imo why JRL is trading so 'low'.

However regardless whether the govt approve or not, the die has been cast...this TKO offer is evidence of how much quality EME's project is, so even if it got hit if the TKO wasn't approved, imho it would not take long for EME to recover the ground.

Cdchi1