Just to clarify further Davidcall. There is a difference between a traditional takeover. In a traditional takeover, as KKR is attempting, the bidder sets the limit of acceptances. Eg they may want 50% , 90% , 100% or simply enough shares to gain influence on the board. With a scheme arrangement, as TAG is attempting ,it’s all or nothing. If the scheme is approved TAG would get 100% of shares, if it’s rejected they are left with the shares they already own ie potentially 0%. If only 74% of shares vote for the scheme, it fails and they get 0% of those shares.
IHR Price at posting:
20.5¢ Sentiment: Hold Disclosure: Not Held
