This would definitely kill Dogecoin!
Charlie Lee made an offer only because he sees Doge as a strong competitor, Doge is very able to take the second place instead of Lite.

Litecoin is still going to die due to asics, who need the second asic-Bitcoin if the first one still exists?
Sooner or later this will happen even in spite of a large cap.

Charlie Lee plans to bind Doge to scrypt, in this case Doge wont be able to overtake him. So if Doge won't change the algo, they stay behind Lite forever! 

Save DOGE!
Don't let it merge with half dead coin!