approval is still required.
All the company is saying is that they have agreements in place with Shareholders that hold 26% of the stock who unless something changes dramatically approve of the deal.
If there is another 27% of shareholders who vote No and no more people vote yes the deal falls over.
50.9% of the vote is no and 49.1% is yes and they need a majority to get the deal over the line.
There will be more people voting yes than those that have already commited to voting yes. It makes it hard for the No vote to get up as they start at a disadvantage and you can't tell who has given them a favorable yes vote...
The last vote had 467M vote against the deal. The question comes how many of these people have given approval to the current deal. 89M votes yes last time.
We can work out that there are already 310M voting yes.
Will be hard to get No vote up as only 556M shares were voted last time which is just under 50% of all the shares that are issued...
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