With ~50% institutional ownership, Harvey will have no choice whatsoever. I believe Berger put all those new take-over clauses in his employement agreement as well as others because he knows institutions would have full vote / control with the institutional ownership where it is. It's a lot more important (control) with big institutional sponsorship at 50% than it was at 20% (when no one cared about ARIAD)
Shareholders, I can almost guarantee you would vote in favor of a $15 bid, even if it is hostile. Poison pill won't matter one bit because shareholders would vote FOR the price. (assuming a poison pill even exists)
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