I do not think it is a question of voting. It is simply whether...

I do not think it is a question of voting. It is simply whether you agree to transfer your gmm shares to gxy at the ratio of 1.65 for 1. If gxy receives enough acceptances i.e. 90% of the issued stock by 29 July the merger offer will become unconditional and GXY will compulsorily acquire the remaining up to 10% shares. Anything less than 90% is presently unknown.Shareholders who do not accept the offer in effect reject the idea of the merger of the two companies. If there is an acceptance over 80% capital gains tax will not apply to those who transferred and it may be that GXY runs GMM as a subsidiary. Who knows. What is pretty certain if the merger does not go as planned GMM sp will head steeply south and remain there for some time.