Your logic would make it seem like a hostile takeover would be accepted with any premium, and companies routinely have to bid 40 or 50% higher. Maybe it's diff

Your logic would make it seem like a hostile takeover would be accepted with any premium, and companies routinely have to bid 40 or 50% higher. Maybe it's different with a poison pill in place as the onus is on the board, but I don't think its obvious what the board should/will do