arrow's board reaction

I just googled the Arrow takeover and noticed this from Arrow:


By 1102 AEDT they were trading up $1.42, or 40.8 per cent, at $4.90.

The cash and scrip takeover bid could shake-up the coal seam gas industry in Australia, with the international energy companies possibly looking to change Arrow's plans if their bid was successful.

The cash offer values Arrow at $3.259 billion.

"At this stage the Arrow board recommends shareholders take no action in relation to their Arrow shares," the company said in a statement.

Arrow has appointed Citi and UBS as financial advisers and Mallesons as legal advisers on the proposal.



Surely our board didn't have to instantly roll over like lapdogs, lets face it i'm NERVOUS !