What we discovered in the process!!! Even though the 50:1 resolution vote didn't pass, we discovered the possible level of support for management as well as the possible number of shareholders (shares) that might be voted in support of management if they chose to refuse an offer,...even if the offer were equal to the valuation, KWG board could elect to refuse it and hold out for a better one...
If that is the case, then would Cliffs have the right, as a major shareholder, to demand that the offer be put to a vote ...then, would the percentages for a quorum or a successful vote (faced with a take-over offer) be the same as for a proposed corporate resolution.
Good luck to all KWG longs
Pear3 out!