Any T/O would be subject to acceptance - a company moving to...

Any T/O would be subject to acceptance - a company moving to compulsory acquisition requires >90% acceptances - if the insto's don't want to sell out then any push to PE T/O is f#*^%d - they could make an offer to retail holders to up their stake but unless their is an agreement in principle between all the big stakeholders any aggressor is trying to take out an illiquid highly cashed up stock with institutional backing. If insto's start dumping then retailers can see the writing on the wall.
(All IMHO - DYOR) - GLTAH!