The 1% combined with the 50% is controlling interest. Gives meathead ( dan ) the power to control the timing of the sale. I'm sure that the terms of the purchase have been agreed to and meathead just wants closing to happen with his timetable.
My guess is that he's got some restricted to dump and selling the Mag would be bad press.
BTW....that poster is IMHO NOT a good source of information.