As I understand it (and I confess I'm no expert) acquiring 50% of the shares gives them control of the company, but they need to acquire 90% in order to commence compulsory acquisition of the remainder and delist from the ASX.
So if 10% say NO and 90% sell up to WES, then KDR would remain, but would be controlled by WES - and one would think that is not their desired outcome, leading to an enhanced bid until the 90% threshold is reached.
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Count of 'NO' votes to the WES proposal, page-18
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Simon Kidston, Non--Executive Director
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