i think usually what happens is someone from MOS will contact...

i think usually what happens is someone from MOS will contact these hedge funds and try to elicit their voting intentions.
if it looks like the hedge funds intend to vote against the funds, then AGL will need to come up with a better price.
So it really revolves around the question of what was the purpose of the hedge funds in purchasing the MOS holdings. was it an AGL arbitrage, or a simple greenmailing type of exercise?? i have no idea.

I am no lawyer, but if the AGL wants to increase the price, it needs to do it well in advance of the Scheme meeting - it can then mail out an amendment to the Scheme docs - that amendment would be an increase in the offer price.
but there would be a drop-dead date which they would need to do it by, example s/h might need to get the notice say 14 days in advance of meeting.

any way, insteresting times ahead.

cheers