Spider Resources

Glee Glee - I think when the take-over goes through they have to buy all shares at the offer price. That process may take a few weeks - perhaps not as long as if it were a shares-for-shares deal, cash should be easier to transfer.

I don't know that the take-over will go through at 19cents; it is almost certain, but not quite yet. It is still possible for another offer to trump that 19cents - possible, but unlikely.

The other aspect I am not sure about is what will happen if the take-over is voted down by SPQ shareholders. CLF would then have two options - raise the price or walk away.