Makattack I do not think your second paragraph is correct.
If MAK do not get above 90% of BON (& lets face it, with UCL there buying this is a distinct possibility) that means that BON holders who accept the MAK offer will only get 1:10 and not 1:9 - it doesn't mean that MAK 'un-buys' your shares and you revert to owning BON shares.
mak sp v bon sp, page-6
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