This was a proxy fight between PWO and Denner...KM was just a good soldier in this fight.
There was a risk in Amarin's policy to GIA and a risk now as well... If a BP were willing to assume that risk and pay $10/share now, I believe the offer would be accepted by Denner...However , with Amarin's current share price so low, the shareholders of the acquiring BP would be critical of the deal.
This is why Denner will probably get the share price up, before making a deal.