Originally Posted by
racedo
In a Stockmarket takeover you need 50.00001% to have won control. When you have 90% of the shareholding you can cancel the Stockmarket listing and acquire the rest of the shares and sent a cheque to the owners of said shares at the value of the offer. This happened with Glazer takeover at Manchester United among many that have taken place.
One you have 50% you can appoint the board and everybody else.
Racedo, you might have missed that they have gone for a scheme of arrangement. If approved by the Court, there is a threshold of 75% rather 90% which if passed allows you to compulsorily to acquire the minority