Quick calculations and recap. For the takeover to proceed, 75% of votes must be in favour, excluding Skip's 20%.Total shares approx 1390000000Minus Skip's 20% approx 1112000000
75% Yes vote = 834000000
25% No vote = 278000000
J-Power has 107000000 shares. Will they vote no? The board will supposedly unanimously vote in favour of the scheme if no alternative bidder emerges, and J Power has a seat on the board, but that does not necessarily mean they will cast their votes in favour.
If general public has 580000000, then there is a good chance we can knock this back with or without institutional help (ie/ J Power, First Sentier, Paradice).I think we can safely assume Michael Canon Brookes will vote in favour with his buddy Scott. That's only 38000000 shares.
I'm not convinced it will get through. It might depend on how lazy retail shareholders are in actually submitting their votes.
Quick calculations and recap. For the takeover to proceed, 75%...
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