As per AFR echo resource is a takeover target, is it true? AFR...

As per AFR echo resource is a takeover target, is it true?
AFR article is as below:
WA minerals explorer Echo Resources is in play.
Street Talk understands a company has snapped up 16.5 per cent of Echo, or 80 million shares, and may back in the market on Friday looking for more.
The line of stock was crossed on Thursday by Canaccord Genuity at 29¢ a share.
Fund manager sources pointed to Northern Star, capitalised at $3.5 billion, as the logical acquirer of the stock.

Echo which has a market value of $134 million, is an ASX-listed gold exploration business with a highly prospective ground position in  the Eastern Goldfields of WA.


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