If a suitors intent was hostile, it wouldn’t make sense to enter a term sheet. Wouldn’t the hostile party accrue the 10%, register as insider and then proceed to buy more? Those hostilities could be deemed unwelcome and incur a negative outcome.
On the flip side, the narrative I’m reading from some is that there’s belief there’s hostility and at the same time the party has seemingly declared intent via the publicly informed term sheet. It can't be both. Please note this