re: Ann: Meridian receives AU$5M from Northwe... Yes, this is an...

re: Ann: Meridian receives AU$5M from Northwe... Yes, this is an interesting point.

I don't think the Indians are happy, as their representative Director did not vote in favour of the deal (refer ASX announcement and the Heads of Agreement).

The take-over is subject to shareholder approval. On the basis that the Chinese can't vote, that would leave the Indian party as the most powerful voting block, and the outcome may be dependent on how they vote and whether they attempt to garner support from other shareholders.

The thing that worries me is that this could turn ugly as a result of a rejection. A higher offer preceeding the shareholder vote (perhaps triggerred by the expert's report) would potentially produce a win / win.