The low ball offer can also get through thanks to the short term greed of shareholders, against BOD wishes. Adam Chowaniec has been through this, was it with Tundra? Hostile bid accepted by shareholders and another Canadian enterprise sold off cheap.

Having AC on the BOD is reasuring to me that a hostile bid will not be accepted without a fight. Same with Dr Taylor to some extent as well.

Off course, avoiding a fight is preferable. They do that by keeping a lid on information until the time is just right, and then let the multible bidders fight among themselves. IMO.