the start of a bidding war?, page-79

No not correct. STO cannot vote on the scheme as the bidder. So the remaining shareholders vote, and the scheme will be passed if 75% of votes cast by a majority (ie more than 50%) of shareholders casting those votes, vote in favour. The best chance of voting it down is the headcount test - notwithstanding the number of shares held, if enough turn up and vote against it, it won't get up. See Xstrata's bid for MIM many years ago - it almost got defeated on the headcount test, despite the fact that shares representing more than 90% voting in favour of it.