"... what price would my AZH shares be without TRY's bid and...

"... what price would my AZH shares be without TRY's bid and without TRY providing AZH with $10 million?"

But parrot, there IS a bid, and there IS a loan. TRY and AZH are now tied up together. Someone could do a bid over the top, to take out AZH, or TRY, or both. Both share prices are certainly awful. Imagine if a bigger fish came along and saw the share price declines and thought they might put this new union in their pocket. TRY and AZH are both good quality.

I read in the AFR a few weeks ago that TRY is being heavily shorted. One can certainly see that there is an attempt to keep the share price up. I suspect it will go up at some point. Meanwhile, distress everywhere.