RE:The BOD should have to disclose ALL bids to shareholdersI feel pretty similarly.
If I understand correctly, if a shareholder or shareholder group holds 5% or more of the outsstanding shares in a company, they can call for a vote on an issue. Not very certain about this, read up something on it a while back.
Pass a resolution stating that each board member gets a 1 million bonus if an offer is found that is acceptable to share holders, and I think we would have the board unanimously approving offers left and right for share holder approval. Like magic for "some reason".
I believe people generally tend to do what they are motivated to do. If the board stands to lose their jobs by presenting an offer to the share holders, then the board is motivated to do everything they can to discreetly rebuff offers and try ensure that share holders are never made aware of the details of those offers, telling the share holders that it isn't in their best interest for them to be made aware of the specifics of the offers. Absolute retardation.