Mac, you need to see "Amalgamation" in your publication not...

Mac,

you need to see "Amalgamation" in your publication not "Compulsory Acquisition".
75% votes are required for Almagamation.
This is the number we are investigating with X.
"Can Z as a majority shareholder be included in this vote as there is an obvious conflict of interest."

Approval Thresholds
The statutory threshold for approval of an amalgamation by the target is 75% of shareholders present and voting at a special general meeting at which a quorum of at least two persons holding or representing by proxy more than one-third of the issued shares is present.

Appraisal Rights
Dissentient shareholders may apply to the Court within one month of the notice convening the special general meeting to approve the amalgamation to have the fair value of their shares appraised by the Court. Recent shareholder activism has increased the risk of appraisal proceedings.

Advantages The advantages of an amalgamation or merger are as follows:
(a) no court approval is required;
(b) dissentient shareholders have no statutory right to prevent the amalgamation or merger;
(c) an amalgamation can be completed more quickly than a scheme of arrangement or a general offer and requires a lower threshold to effect a squeezeout. It may be completed even if appraisal proceedings have been instigated, although in such a case the offeror will lose the right to terminate the amalgamation and will be compelled to pay the fair value determined by the court to the dissentient shareholders.