Thanks Roy and Okiedo for all good points. I am still " on a road" so will be short:

Yes absolutely LAC and Gang will buy Arena. If I remember correctly, LAC owns options which give them opportunity to increase their share in Arena even more.

My opinion that divorce will happen. But  ( big but) it will happen only AFTER Thacker Pass approval. In order to properly split two companies Thacker Pass has to be approved so true vallue of the project can be calculated. It can not be " a maybe project" regardless how sure we are in judge decision. I see J Evans might remain on a board of new Argentina company but it will become completely independent entity with its own management and own Nasdaq symbol. It is possible that LAC/Argentina  will have different LAC ration for example: Gang 65% and Lac35% ... or something like that in Order completely free T-P from Chinese shares. 
So now four exciting news in a pipeline: Decision, Partnership, Productions and Split.