Hong Kong’s minority shareholders are poised to back a US$23 billion deal between Hutchison and BlackRock after receiving a special bonus of up to HK$25 per share. The low threshold is attributed to the fact that Li family members control 30.43% of Hutchison, with BlackRock holding only 4.84%. To proceed, the deal requires approval from 50% of eligible shareholders in a specially arranged meeting. Analysts believe the minority shareholders are willing to support the sale due to potential rewards, including the bonus and the opportunity for BlackRock to participate in the vote.
Source: https://www.scmp.com/business/companies/article/3303376/hutchisons-hk25-bonus-key-15-vote-minorities-back-us23-bln-blackrock-deal