anglo takeover question

sorry too start a new thread but
can any one tell me what happens to options if there is a takeover

ie
anglo have 85 mill shares
total shares after offer is 568
so they have at least 15%

if they take up all options they have another 15% plus more if they take up shortfall
so they easily get 30 %

I'm assuming a takeover at some point if the mine/fields live up to promise

Shareholding thresholds are:
"> ThekeyshareholdingthresholdsinanASX-listed Australian company from a Corporations Act perspective are: ≥5% (obligation to le substantial holding notice), >10% (ability to block compulsory acquisition), >20% (takeovers threshold), >25%(abilitytoblockschemeofarrangementandspecial resolution), >50% (ability to pass ordinary resolution), ≥75% (ability to pass special resolution) and ≥90% (entitlement to compulsory acquisition)."

what happens to our option holdings ?

does anyone know