Well from 80-90 you cant compulsorily acquire the remaining shares of holders who have not accepted the bid.
In other words the companies will continue to operate as different entities, though MKO effectively a subsidiary of EAR.
But the takeover is still formal, ie no need to extend offer anymore, the holding company is in control etc.
Obviously removing the need to have two companies gives cost reductions and other benefits.
Once 80% is reached getting to 90% will be just a matter of working the phones to contact shareholders that were probably oblivious to the whole thing.
I still think they will get to 80% comfortably.
Cdchi1
MKO Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
