today's meeting, page-10

Hi TShirt - I agree with your sentiments but would respectfully point out that it is the shareholders who decide whether to accept or decline a takeover offer, not the Board. The Board can decide not to recommend an offer to shareholders but ultimately it is up to shareholders to accept or not.
This is where the additional institutions coming onto the register becomes a double edged sword IMO. I think institutional investors would be more likely to accept a low ball offer, in order to make a quick short term profit.
Only my opinion.