Atlas may be removed from the official list of ASX

Even if FMG hold their 11% thus preventing Compulsory acquisition there is a real risk of delisting.
Referenced from the Target statement:

Risks if Redstone acquires a Relevant Interest in 50% or more of all Atlas Shares
(a) Atlas may be removed from the official list of ASX In section 5.14 of the Bidder’s Statement, Redstone has stated that it intends to procure that Atlas is removed from the official list of ASX (if it becomes entitled to do so).

If Atlas is removed from the official list of ASX it may adversely impact your ability to sell your Atlas Shares, the price at which you can sell your Atlas Shares, and the level of relevant Atlas information you are able to access.

ASX guidance indicates that ASX would not usually require Redstone to obtain Atlas Shareholder approval for Atlas' removal from the official list of ASX in the context of a successful takeover where the usual conditions are satisfied, which include that (among other things):
(i) Redstone and its related bodies corporate own or control at least 75% of Atlas Shares; and
(ii) there are fewer than 150 holders of Atlas Shares having holdings with a value of at least $500, excluding Redstone and its related bodies corporate.

In the event the above conditions are not met, Redstone has stated that it may still request ASX remove Atlas from the official list of ASX. ASX's guidance indicates that ASX's decision to act on Redstone's request may be subject to the satisfaction of certain conditions (including the approval of Atlas Shareholders to the removal by way of an ordinary resolution) directed to ensuring that the interests of remaining Atlas Shareholders are not unduly prejudiced by the removal and that trading in Atlas Shares takes place in an orderly manner up to the date of its removal.