I think that TTK are the prisoners of some self serving Directors and upper management who will reward themselves voraciously from the cash pile until it is rapidly exhausted. As you say the selling price of TTK will then be well down on the 80cps Spark offered and the future will be very dim, TTK can't foot it with the big players.
What I can't understand is why all the shareholders who aren't personally directors didn't take the 80cps that was on offer and run. The price is already down to 70cps! They were the prisoners of sleepiness and morons to boot.