Tekvest, the 90% is true if he wants to make an on or off-market...

Tekvest, the 90% is true if he wants to make an on or off-market takeover bid. If AA does a takeover via a scheme of arrangement (very popular nowdays), the needs >50% of shareholders who voted and >75% of shares that are votes in favour - AA wouldn't be able to vote his shares if he's an interested party to the takeover...

I'm struggling to understand why AA doesn't take the company private given how Humm's being priced by the market - even paying a 50% premium would mean he's getting it for less than the value of net tangible assets...I note that Prospa was taken private earlier this year.

DYOR