so who exactly can call off merger

Court has approved scheme meeting for the ZFX OXR merger scheme on 16 June.

Recent rumours that someone else could buy OXR and ZFX would be left at the altar.

So who exactly can call off the scheme and how do they do it ?


Well this is what the previous annocement said:

Oxiana Competing Proposals or change of control
• by either party if the Oxiana directors recommend a Mutually Exclusive Competing Proposal
for Oxiana;
• by Zinifex if there is a Competing Proposal for Oxiana by which a third party acquires a
relevant interest in more than 50% of the issued shares of Oxiana on an unconditional basis;
• by Zinifex if there is a Mutually Exclusive Competing Proposal for Oxiana (irrespective of
whether or not it has been recommended by the Oxiana directors) which at the time of
termination is Not Open to Zinifex shareholders (subject to an obligation on the part of Zinifex
to consult with Oxiana prior to termination); and
• by Zinifex if there is a Competing Proposal for Oxiana which at the time of termination is Not
Open to Zinifex shareholders (irrespective of whether or not it has been recommended by the
Oxiana directors)or which at the time of termination is recommended by a majority of the
Oxiana directors (subject to an obligation on the part of Zinifex to consult with Oxiana prior to
termination).


What all of that means, is not obvious. It would not appear possible for some other party to acquire 50% of OXR by June 16, they could not get the takeover going that quickly.