Poli accepted the offer for his entire 28.9% stake, giving the bidders control of the company.
Poli’s acceptance takes the bidders’ interest to 52.7% and satisfies the minimum 50% acceptance condition.
MinRes’ board unanimously voted to accept the offer for its recently acquired 12.78% stake in Aquila.
The company, which was proposing a scrip bid for Aquila, congratulated Baosteel and Aurizon for achieving control.
Aquila has now entered into a takeover implementation agreement with Baosteel and Aurizon to ensure an orderly transition of control and management.
Poli and Aquila directors Denise Goldsworthy and Gordon Galt have signed resignation letters which will see them leave the company next Friday.
The bidders have appointed Qingyu Li, Qinghua Zhou, Yiming Wu and Michael Carter to the Aquila board.
The offer was also extended from July 11 to July 25.
Aquila shares closed at $3.40 yesterday.
