Evening, yes of course an aggressive buyer will consider all eventualities. However they still have to buy those shares from somebody willing to sell at their offered price.
Now I don't get the feeling many forum members are unloading shares NOR interested in doing so at $4, $5 or $7 so how would a motivated hostile takeover outfit manage to pickup 30 million shares? Won't do it at $2 or $3 and kind of doubt they would at $5 but say they do. You and I then say thank you very much we'll excerise our right to buy more shares at the $2.50 average market for past 20 days OR sell somebody else the right to buy them (yes these rights could be sold).
Still the takeover outfit has to grab another 30 million or so to gain control, do you really think they'll get these at the $5 ?