the Compulsory Acquisition of shares from a 90% threshold, is...

the Compulsory Acquisition of shares from a 90% threshold, is different under a Takeover situation to that of a "creep" type situation, as I understand it.
If a company makes a takeover bid of say 20c p/s, and gets to a level of 90%, it can compulsorily acquire the balance of 10%, and must pay the 20c p/s to the remaining shareholders, whilst that Takeover bid is still current.

BUT - if a company has makes a t/o bid at say 20c, and only gets to say 88%, and lets the t/over bid expire, then its a different ball game.
The predator can then acquire shares on the market of 3% every 6 mths.
Once the provisions of the T/O rules have lapsed, then that predator could acquire shares on market at say 15c. So it buys shares on market at say 15c and gets to 90%.

It can then apply to Court and get consent to Compulsorily acquire the balance of 10%.

But all it needs to do is get a Valuation of the company.
I cannot recall all the details.

But if the valuation of the remaining shares come in at say 12c, then that is all the predator coy needs to pay to compulsorily acquire that outstanding 10%.
S/h can object in court, but costs money.
I cannot recall all the details.
it is worth Googling it .
I had shares in West Aust Diamond trust years ago, and we got Comp Acquired by default. The law stank!!
cheers