Aqua,
Good question and it has happened in the past, yes. Ego's in the boardroom can drive out any reasoning or questioning from other board members and sometimes they can be bullied into consenting against their own views. Overly strong Chair's or even aggressive CEO's can dominate boards at times and steer for self interest.
In this case you have a lot of ex-Lynas Directors in RTA and then there is Todd Corporation as a well regarded family business of long standing and lo and behold a well respected Chinese firm in the wings seeking to secure a supply of ore for their own purposes and their allegiance in this instance will be to Todd Corporation.
Vested interests will be plentiful.
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