Longstory - 90% is the point they can compulsorily acquire the...

Longstory - 90% is the point they can compulsorily acquire the remaining 10%

There are those holders who may wish to hold out and try to get a better price. if none is forthcoming the bid may fail

There are those that are happy to refuse the offer under any circumstances to get back at GV

I have gambled that it will go through - I hope at a higher price than the current offer. I believe the powerful motivation of some money over no money will likely prevail.

My experience is of one TO where 90% was required. They got it after extending the time and sweetening the deal. I got bombarded with mail and phone calls. But that is just one example.

I am not sure where you get figures on how many TO offers succeed at 90% and how many fail.