Business and Corporations Law Question

QUESTION NO 2: [10 MARKS] Saipem Ltd is a listed company with a growing business and reputation in minerals exploration. Niko Ltd has been interested in Saipem for the last 12 months as its board believe acquiring Saipem would give it a strong position when the Federal Government announces the upcoming "Mineral Resources Subsidy". Three months ago, Niko began acquiring Saipem's shares and now holds 19.2%. Niko's directors have decided to make an immediate offer of 3 Niko shares plus $1.50 cash to Saipem's shareholders. One of the matters Niko's directors are worried about is the negative opinion the Saipem's board have of Niko's business model. Niko's directors believe the Saipem's directors may try to upset their goal of control. (i) (ii) What is your view on Niko's offer and what Niko must do to achieve control of Saipem? [5 marks] Explain whether Saipem's directors have the ability to influence Niko's plans and how any such action may impact upon their duties as directors. [5 marks]