Because with Villa, you can get nearly 60% of the shareholders in one very small room and get them to do the deal there and then. Once you have over 50% you have control and can do what you want. Yes you have to extend the offer to all the other shareholders and that can take a few weeks, months even if they have to commence a discovery process for the 'missing' shareholders.
Gringo that is a valid point. As I understand it with the other takeovers, they were still able to operate to some degree even though the takeovers took some time anyway and they had full control.
And if the controlling share is over 50% in this instance then certainly it must make it easier to work quickly, even all the paperwork hasn't been completed.
And of course, if it is Lerner who makes and wins a bid, he would already be very aware - having spoken to supporters club etc - that he would be welcomed by the vast majority at VP as well......and that would surely also make it easier to operate?