Under the Takeover offer they need 96.41% acceptances before they can compulsorily acquire.
There are different provisions if they reach 90% and there is no current bid on the table (that's the way I read it).
Actions here will be dictated by the number of shareholders holding atleast $500 worth of shares.
Taurus can also use creep provisions to increase their holding. They can increase by 3% every 6 months.
The problem they have with this is that the shares aren't trading.
There is more information on page 33 of the initial 220 page Target statement released a few months ago.
Don't forget the bidder needs to advise they market when their holding increases by atleast 1%.
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