Post by
nizza on Jul 25, 2024 2:37am
Majority ratios in voting on purchase offer
In the event of a vote on a purchase offer from Fortescue, the following majority ratios would apply in my view:
Of the current 84.2 million shareholders, 26.1 million (namely Fortescue) would be excluded from the vote.
This leaves 57.9 million shareholders.
This would then correspond to 100% of those entitled to vote.
The percentage breakdown would be as follows:
15.5 million shares Fund & Fam = 26.7%
14.7 million shares Peruvian & High Net Worth = 25.3%
5.7 million shares Directors-Officers = 9.8%
22 million shares Retail/Public Float = 37.9%
Even if the retail group showed maximum disinterest, there would still be 62.1% of those entitled
to vote who could express a differentiated opinion.
The likelihood of this group agreeing increases as the offer approaches the value of the company, which can withstand comparison with similar properties.
Comment by
ForesstGump on Jul 25, 2024 5:55am
Would that be an all cash or in exchange for Fortescue shares?