"Am I correct in saying:

• only 2/3 of shares voted 'yes' needed for the merger (not total outstanding). Correct!

• shares tendered to Cliff's offer are not allowed to vote at the meeting. I believe they are given that they are recorded June 4th or before. But Cliffs need a proxy to vote them.

• Cliffs wants those shareholders who have tendered shares to submit a special Yellow Proxy allowing them to vote those 'tendered' shares against the merger." Id.

Your guess on the outcoming news release? (Hard to tell, isn't it?)

GLTA.

BaBe.