As a medium term follower of FFF, however for various reasons...

As a medium term follower of FFF, however for various reasons never held, something sticks out at me here:

Why would FFF sign an agreement with AC&E that (i) allows AC&E to make an offer, and (ii) if FFF doesn't recommend it or put it to shareholder to vote on then FFF pays some form of severence fee, when (iii) FFF has not done due diligence on the potential investor/s to determine if they are good for it?

That seems backward to me, and no matter how I think of it just doesn't make sense. Maybe I've missed something?

MJS