RE: Possible Scenario No offense but truth be told, and in my humble opinion, IF, the focus of anyone ROI is on a take out offer - I submit to you that you're obviously not in tune with what the grand prize is, in Nigeria these days !
Let me point you in the direction of Oanda, which recently has re-emerged ( sort of speak) more like a Legal entity Business reshufling, same could be said about ND Western limited which just made the news , or Shoreline (Heritage subsidiary), or Eland's announcement 2 days ago for that matter (I'll even offer the link here)...
Magic word people in Nigeria, there is ONE magic word worth BILLIONS ---- INDEGENOUS!
https://www.energy-pedia.com/news/nigeria/new-151535
Granted we are close to scrubbing the bottom of the Share price Ocean, hopefully soon to be announced comments will provide the floatation device that we are all looking for, and our indeginous partner interest with newly attracted funds from abroad the POP, we've all been waiting for.
Not easy to deal with Nigeria, trust me I have the scars to prove it , in the form of Mart among others as an investment vehicle, let alone had to promote and support 3 dealers in my business out there in past life !
PS: One last note, mainly about Oanda - my comments are NOT to entice you to invest in it ( yet)..BUT keep an eye on one of the rare multi billion Corporation of Nigeria - Exodus has some levarage and clout - Oanda ( mother Corporation ) MAKES leverage and clout ! (Traded Oanda is owned at 94.6 % by Oanda' the mother.,.,.but be patient financials and MD&A are still nebulous but the result of a complex RTO !)
Bottom line..trade this and other Nigerian plays...but holding for the grand prize in your head of being taken out, is as I stated earlier - missing the boat in my opinion which is just that my opinion!