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
