I believe that if you had 100,000 shares, and a hostile bid was made, then you would have 1 million rights triggered, that would have been activated and detached from the shares, and trading separately.

If you did not have the means to buy those shares then you could just sell the rights only(with a value of at least $5/sh) and use any money from that to buy more Poet shares, if you choose to.

Either way you will end up with a very nice gain. Imo.