Only problem I can see is that the management and shareholders of junior companies are going to reluctant to sell out at anywhere near these prices, so the bid premiums are going to have to be mighty big.

However, I guess any company that needs to raise cash will have little choice. For the others, I'm thinking JVs might be more likely than outright takeovers. You get access to capital and expertise but leave the existing management in place and the existing shareholders with plenty of upside.