The broader issue is that the directors seemed so keen to sell...

The broader issue is that the directors seemed so keen to sell that it looks like they were trying to block a successful Magnum bid (and, in doing so, potentially disadvantaging the shareholders they are meant to be representing). Why would they do that? Why would directors forego extra money for their shares? It was highly likely that Magnum was going to raise their bid after DLS raised its own offer, after all. Why couldn't the directors and those they were encouraging to sell, have waited another five days after DLS raised their offer?

Its one of the weirder decisions I've seen directors make, if only because they passed up potentially higher profits for themselves.