Look at the Termination Agreement from 10/06, where it states, that Swartz has the right for his approval under two circumstances. The one is PTSC purchasing a company with 10% or more of the OS - the other is the case, an aquisition is NOT "unanimously approved by the Company’s board of directors".

If CJ = Swartz is against an aquisition, CJ says no at the BoD meeting und thus Swartz has the right to give his written approval.

And as long this agreement is in power (05/31/08), they won't waive their rights.