Ann: BPT: Beach launches cash bid for Adelaide En, page-22

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  1. 7,728 Posts.
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    re: Ann: ADE: BPT: Beach launches cash bid fo... "BPT has control of ADE with > 50% shareholding. However, to compulsory acquire the remaining shareholdings in ADE BPT would need to get to 90% of ADE."

    However it can roll the board and replace it with its own directors.

    It only requires a 5% shareholding to do that, change the board and you remove any real opposition to the take over.

    CB

 
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