Ann: Bidders Statement,GXY-GMM.AX, page-9

No - if the vote goes "no" you don't get the offer.
But neither is it "all" shareholders.
Technically its 90% - but with GMM's assistance it can be 80% if they waive that condition.

You can be fairly certain already of the result - :

Galaxy has the right to extensions of the time period once certain criteria are met.
They could drag it out for as long as it takes, basically.

You have to look carefully at things like the number of shares that have already agreed to the swap pre-bid - Fotios' considerable swag - approx 45m with options, Galaxy's swag, another group of 4 funds with 4.8%. Thats a figure already around 25%.

- then add Tribeca's recent haul of 20m and take a look through the recently published broker data to give you an idea of just how many funds are holding large amounts (they traditionally don't stand in the way and vote with the board's recommendation).
All recent buying since the announcement can be assumed to be positive to the plan.
If not - they would simply sell up now.

Once you add all that up - and mix it in with the positive sentiments expressed by forum members about whatever they are holding - you will find it hard to come up with a scenario where they don't end up taking the minimum 80% or indeed 90% easily.

Hope this helps.