Hostile takeover - no. Have shares available for future acquisitions is most likely although hopefully they reduce it or do a better job explaining it.
Discounting the obvious 9M whacks and the fact that the Bid is slightly higher & Ask is holding steady, I'd say it's a non-event for now. Hopefully they come out and speak to it soon. JMO
UPDATE: Guess I should have looked at X before posting. lol