Accrol Takeover Rumours (ACRL)

i'd buy into any blood bath, the shares would be doing quite nicely right now if this takeover sideshow hadn't occured. Even the French banking mutual society thinks this company is undervalued, and i agree with them !

Offer RNS: "the approval by a majority in number of Accrol Shareholders present, entitled to vote and voting at the Court Meeting, either in person or by proxy, representing at least 75 per cent. in value of the Accrol Shares voted" I initially read this as 25% could block the takeover. Now I am unsure. Is it saying a simple majority is required at the vote and the total of those voting should equal 75% of shares?

Haven't got the link but Mail On Sunday reported yesterday that 'Accrol top-ten shareholder Momentum Global Investment described the recommended 38p-per-share takeover by Navigator Paper as "an insult" to the UK-based toilet manufacturer's investors. Momentum portfolio manager Mark Wright said the recommended offer is an embarrassment to Accrol's board and nothing less than 50p per share should be accepted'.

I have just downloaded todays trades: 1.33m sold below 38p 17.07m sold at 38p 4.93m sold above 38p Takeover rules prevent buyer paying above 38p. So who's buying and why? Not just us that thinks 38p is to cheap. Any counter bid needs to be 10% above 38p