Hostile bids are exactly that, hostile.

It would be well within the rules for the company to make an announcement of their opinion of such a hostile bid and recommend to shareholders not to endorse, or vote in favour of it.

How shareholders vote is their own business.

Not saying it's impossible but am saying that I bet there are enough shares to vote down any hostile bid the company deemed insufficient.

No one owns 10% of this company that I'm aware of, no one has been accumulating in any substantial way, so this thought of hostile takeovers is nothing more than an exercise, in my opinion.