As a shareholder, Naliaka is protected law in that at Common Law, though a majority shareholder is free to vote selfishly, he must always do so in the best interest of the company otherwise the decision is questionable in a court of law. As was the case in Menier v Hooper Telegraph Wires.
In this case, since the proposed merger purports to benefit the majority shareholders at the expense of the minority i.e. Naliaka, the decision to merge is challengeable in a court of law.
My advise to Naliaka is therefore to sue the majority shareholders and the company for disallowance of the merger. My advise is based on the decision in Menier v HooperTelegraph Wires where the majority shareholders purported to benefit at the expense of the minority.