OK Roy. I'll take the first crack at this, just for fun!

Firstly, whether shareholders should welcome an acquisition at this time ... I think that comes down to risk and return. For example, if you thought LAC will be valued at $60/share in 2 years from now, would you be happy to accept $45 today (i.e. future value discounted at 15% p.a.)? Given remaining project execution risks, I would be happy with that, but probably not in 12 months from now.

Secondly, who could justify paying such a hefty premium? I can’t see an OEM or battery manufacturer justifying that. The only possibility I see would be a large diversified mining or oil and gas company, that wants/needs to have a "new energy" growth platform. That is, where Jon and the team are retained and incentivised to not only deliver TP and CO, but also to identify, secure and deliver additional lithium development projects, globally. Exxon has a market cap of $233bn BTW.

What takeover price would others find acceptable today? (I might regret asking that question!).

Anyhow, its sunny and 21 degrees here in Sydney today (Sunday). Time to mow the lawn.