A predator can't really demand that the company issue more...

A predator can't really demand that the company issue more shares to sell to them; the board would have to decide that was a good idea and agree to it. On the other hand, a predator can make a hostile takeover bid hoping that the shareholders will accept the offer even if the board recommend that they do not. With MEL, that may happen if an offer is made for say 70c, which would look good to shareholders given the recent share price, even though for various good reasons the board may suggest the company is really worth several dollars.