tullow holding afr article

Brief AFR article today re-iterates that TLW will not be able to vote the shares they have bought at December's meeting. Got me thinking as to why they are buying. Two possible reasons .. to get a blocking stake of over 10%, and to remove shares from the market particularly from anyone who may vote against the merger. They can't vote the shares but by taking them out of circulation they increase the odds of getting a 75% yes vote. Just a thought.

H