Voting at the EGM, page-5

It depends Panorama.
FMS united (a group formed via HC) was instrumental in garnering support to vote down a Director recommended acquistion of a significant resource (FMS) by Todd Corporation. It was viewed by many to be a low ball offer which contained features that lacked certainty in timing. Some investors preferred an outright takeover which is what is happening now.
The difference was, there was someone who was willing to put his/her name to it and make submissions to the company. There was personal time and admin costs associated with it.
What might of assisted the scenario was that some of the top 20 shareholders might have been aligned with the united group.

So again, each scenario is different so cannot always be too quick to dismiss various approaches to canvass concerns.

Whatever approach, it is important to show professional courtesy and do it in respectful way. Friends can have differences of opinion and don't always have to agree.