RAC - Charts & Price Action, page-2814

Its my understanding its up to the shareholders to make the decision even if a low ball $3 is put forward, not management. Which is concerning, say an offer comes in tomorrow at $1b or an SP of approx. $6 then you may well have people accept it unfortunately. This is one reason why Wombats analysis is invaluable IMO as it helps understand fair value based on peers

I do wonder if there's a certain % that management can choose to decline without consulting shareholders, say if the offer is sub 50% premium to the SP or something to that effect?