If an offer is made at some future point in time ordinary...

If an offer is made at some future point in time ordinary shareholders will be powerless to influence it or hold out for a better offer.
I learned this lesson in 2018, when holding AVB, which was taken over by OZL. Ultimately the board and major institutional holders will make the decision to accept or not accept primarily based on their own self interests, rather than the interests of all shareholders. Unfortunately, there is no such thing as fairness in the M&A business.

Cheers
F