That's not right.For takeover to happen, they need 50.1% of the...

That's not right.

For takeover to happen, they need 50.1% of the shares (not share holders).


The 80% is in regards to capital gain relief - and again, it's shares not shareholders:

CLF Shareholders should be aware that if WAM does not acquire ownership of at least 80%of CLF Shares, then rollover relief will not be available to CLF Shareholders in respect of any capital gain that is made on the receipt of WAM Shares as consideration.

WAM already own 14.26%.

I for one want the takeover. The value of your holdings go up and there's a nice little dividend as well you will get from WAM. Seems like a no-brainer to me....or you could stay with CLF and not be given any extra value in your holdings and no doubt the price will drop if takeover doesn't happen (look at share price since the takeover was announced ).