HandbookApprovals and conditions
What is a vote threshold?
What it means and how to read it on a deal.
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Tracking Alpha
What it is
How much support the merger needs, counted in shares or votes.
On the site asVote thresholdVote threshold basis
How to read it
- Majority of shares outstanding
- More than half of all shares, so a share that isn't voted counts against.
- Majority of votes cast
- More than half of the votes cast at the meeting.
- Majority of the minority
- A majority counted only among the shares not held by the buyer, its affiliates or others the agreement leaves out.
- Supermajority
- A share higher than a majority.
- Written consent
- Holders with enough votes have approved in writing: see written consent.
Vote threshold basis, a line of its own, says whether the vote is measured against the shares outstanding or the votes cast.
