Ann: Cash offer for Legend Shares, page-6

You will have the opportunity to vote your shares, at the scheme meeting, but if the scheme is approved, eventually your shares will be compulsorily acquired at the approved price.

"Under a scheme of arrangement, approvals are required from both target security holders and the Court.The Court must first approve the despatch of the scheme booklet to members and the convening of the meeting of target security holders. For the scheme to be approved, a resolution in favour must be passed at meetings of each class of target shareholders by both:

75% of the votes cast on the resolution;
and more than 50% in number of the target shareholders voting on the resolution (in person or by proxy).

If target shareholders approve the scheme, the target will then return to Court for a second time to seek Court orders approving the scheme."

https://www.minterellison.com/articles/takeover-bid-v-scheme-of-arrangement-structuring-a-friendly-acquisition

I am pretty underwhelmed by the deal. They are not paying much of a control premium to acquire LGD.
It looks opportunistic to me.
If was $0.365 cash plus a 7 cent fully franked dividend, then I would be more enthusiastic.

(By the way, I used the delay entailed in the compulsory acquisition process to my advantage when WMC was taken over. It delayed the acquisition of my shares and hence the realization of a capital gain into the next financial year, which was to my advantage at the time.)

Cheers