What Is a Scheme of Arrangement?

A scheme of arrangement is where the bidder enters into a contract with the company who acts on behalf of holders, i guess. It's not until the day of the vote tat you yo know for certain, but the transaction is or isn't going ahead. With a take over, you can usually get some visibility, over time, of what the acceptance rate is like. But it does open you up to a little bit more risk than would otherwise be the case if youre contracting directly with the bit or themselves.