Well if he/she/it felt that once a bid was unsucessful the share price would collapse then better to take what is on offer now rather than watch it all collapse. A reason not to would be to hold on for an improved offer which as indicated in previous post is pretty routine in hostile takeovers.
What's on offer now is 10 cents in excess of the defunct FR bid, but I don't see too many heading for the doors.
Except a few of your credulous mugs.....