when I was looking for confirmation if voter turnout makes an impact ( ie Scheme letters going into the recycling bin unopened) I found very interesting info online which contradicts my initial assumption:
Allens Handbook on Takeovers:
"...Blocking of scheme of arrangement
A person who owns or has voting control over 25% or more of a company’s shares can unilaterally block the approval of a takeover conducted by a scheme of arrangement, because one of the scheme voting thresholds is approval by at least 75% of the votes cast on the scheme resolution. (In practice, a person can normally block a scheme with less than a 25% interest given voter turnout at scheme meetings is often substantially lower than 100%.)..."
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