Also under many SIDs the company is likely obliged to "do all things necessary" (or similar) to assist the bidder get the scheme approved. Ultimately the bidder is paying for this service as the takeover price has already been agreed. Usually management must demonstrate they have pulled out all stops etc. etc. and using a proxy advisor is evidence of having done that. The company will be getting progressive vote data by shareholder and will want to ensure it doing everything. As I said, it costs the company nothing as the buyer will effectively be paying the bill if the scheme is approved.
ESS Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
