How do you know there are zero institutions voting against the board?
Would they be vocal about it or do you have access to the voting scorecard?
I have my fingers crossed that there are lots voting against.
I even hoped that the phone around was to convince shareholders to vote and not leave it to the proxy default. The board has committed to backing the offer unreservedly (meaning they can't change their mind and are 100% committed to the sale) - unless either a superior offer is made, or the valuer reports that it is not in the best interests of the shareholders, or the shareholders vote it down.
It doesn't really matter that a superior offer doesn't magically appear. If voted down we are still left with the goose that lays the golden eggs. In 4 years time the share will be worth the $10 that some analysts reckon it is potentially worth now.
Whilever there is coal fired power stations (2035 ++) and whilever renewables remain uneconomical (without the current massive subsidies that is) then gas is as good as gold.
There is a book by Prof. Ian Plimer titled Green Murder everyone should consider reading, prior to bailing out of fossil fuel stocks.
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