value for money

"Emerging iron ore producer and explorer Midwest Corporation Limited (“Midwest”)
(ASX:MIS) advises that, for the year ended 31 December 2007, it incurred an operating loss
(before depreciation, amortisation and income tax) of $0.76 million, with the result adversely
impacted by $9.47 million in costs directly attributable to last year’s attempted takeover by
Murchison Metals Limited (ASX:MMX)."

how do you spend $9.5m on defending a takeover? seriously...this is an absurd cost. that is like paying 20 people nearly half a million dollars each for 2 months work..... may be the directors each needed a 'stress allowance'. i'm sure it was pretty stressful not knowing if they would get the chance to vote themselves thier option package or not....