I think I just threw up in my mouth a little.

Using Black 3.0?

Yeah, I’m pretty certain the whole “board not approving” thing is one of the main things that makes it a hostile takeover?

What I’ve seen in the past is that the board will disapprove of the takeover, and the other company will acquire enough shares to have enough sway to vote on members of the board. New board members (and old board members once they’ve made their own deals to get what they want out of whatever restructuring is planned) approve of the takeover bid and basically force the remaining shareholders into accepting the terms.

I’m definitely not the most knowledgeable person about such matters, though, others may have a better explanation.

Three levels of nested bullets? Swoon.