I think it is a bit simplistic to say categorically the deal is...

I think it is a bit simplistic to say categorically the deal is off. If it fails on the first vote there is the possibility of a revote. Maybe Thorney will relent when he sees an overwhelming response from current shareholders. Maybe OVH will get inventive and offer say 15% of extra shares to Iress (I've seen it happen before). All sorts of scenarios are possible before you can say the deal is off. OVH are aggressively pushing the deal and the current voting is overwhelming in favour. I'm mildly optimistic.