Second stage -MPVD Going private Lawman Thank you for sharing link Minimum Tender Condition Under the new take-over bid regime, an offeror must comply with the Minimum Tender Requirement. The offeror may also set a higher tender threshold where the offerors objective is to acquire all of the outstanding shares of the target company. In that event, there will also be a minimum tender condition, which is typically set at 66% (75% in the case of some B.C. corporations) ownership by the offeror in order for the offeror to be certain that it will acquire sufficient shares to effect a second-stage, going private transaction. If an acquiror acquires more than 90% of the securities subject to the offer (which excludes shares held at the date of the take-over bid by the acquiror, its affiliates and associates), Canadian federal and provincial corporate legislation provide a procedure for the compulsory acquisition of the balance of the shares. No shareholder vote is required, although shareholders have the right to dissent and be paid the fair value of their shares. When less than 90% but more than 66% (or 75% in the case of some B.C. corporations) of the outstanding shares are acquired, the offeror can complete the acquisition of 100% of the target company by means of a subsequent going private transaction. This will require holding a special meeting of the shareholders of the target company to vote on the transaction. In this circumstance, the offeror can vote the shares that were acquired under the offer. Since the voting threshold under applicable corporate law for approval of a going private transaction (such as an arrangement or an amalgamation) is 66% (or 75% in the case of some B.C. corporations) of the votes cast at the meeting of shareholders, the offeror can be assured that the transaction will be approved . Why does Mountain Province Diamonds have meeting in BC? There are a few why!!!! Why MPVD shares under 3.50 for a long time? That's why... If MPVD and KDI merger approved , there is no future for minority shareholders, no bye and kiss speech from MPVD major shareholder, just prepare lubricant....O no, not for our pleasure. Future development of KDI could result in a mine life of 20+ years . read on one post here Gahcho Kue is now 20+ years