"The Offer is subject to a condition that there have been validly deposited under the Offer and not withdrawn at the time of expiry of the Offer such number of Common Shares that, together with such Common Shares held by Cliffs and its affiliates, constitute at least 66 2/3% of the Common Shares then outstanding (calculated on a fully-diluted basis). If the Offer is successful, Cliffs intends to acquire any Common Shares not deposited under the Offer through a compulsory acquisition, if available, or to propose a second stage transaction for the remainder of Spider's Common Shares."

this quote is from the original offer. my question is ---- does it not require 2/3 rds of the votes before the company can be sold ? 50.1 % of the shares can controll the company , but don't you need 66.7% to vote in directors or pass resolutions ?