Well OK, but the key lies in the word "agreed". Presumably it...

Well OK, but the key lies in the word "agreed".
Presumably it means agreed by the company (directors at the behest of shareholders), but, to address Inclineal's point, how can the bulk of shareholders ensure a bidder doesn't bribe management (offering lucrative side-deals, for example) even if management are substantial shareholders?
I've seen this happen before, recently, to an ASX-listed company.
Admittedly I may be exaggerating my concerns here.