On the legal framework in the event of a takeover
On the legal framework in the event of a takeover a quote from Allan's article:
<Fortescue Makes Moves At The Alta Copper AGM To Make Changes To The Board Of Directors>
https://rocksandstocks.substack.com/p/fortescue-makes-moves-at-the-alta
"Under securities laws the remaining 69% of the shareholders are protected to ensure they get a valuation that they support by way of 2/3 of the votes cast at a special shareholder meeting that does not include Fortescue share position.
Additionally, any offer by Fortescue has to be supported by an independent valuation that any shareholder can contest. Securities laws are in place to protect the minority shareholder for this very reason
In order for Fortescue to own Canariaco outright will need the support of shareholders as to what price they pay. Fortescue is well aware of these regulations, they have to play nice with Alta Copper."
My opinion:
I don't think the 69% shareholders will be too lazy to represent their legitimate interests.
When it comes to the essential question of a takeover, all shareholders who are still in their right mind will most likely cast their vote.