It looks like ASIC still have want to have their say in this. See 12.7c of the scheme booklet:
This is unprecedented. Scheme of Arrangements exist as an alternative to takeovers in that full control may pass to the bidder if 75% of the shares + 50% of shareholders vote for the Scheme. If ASIC want to step in because they see the "50% of shareholders" as unfair, then this raises all sorts of issues going forward, not just for this Scheme, but for other Schemes.
Why on earth would another overseas bidder who wishes to use script and not list the script on the ASX, bother to launch a scheme to takeover another ASX listed stock if ASIC is going to put all these roadblocks in place? As a result, all ASX listed shareholders will now suffer because the barriers for takeover have now been raised.
