If Jeff responds and he does his fiduciary duty to the owners of the company, he will try to get Brookfield to make a higher offer. 

Unless he is a spoiled child, he will NOT call Brookfield names (like some on this Board) and accuse them of doing anything that was not their right to do according to the security laws. Instead he will try to engage Brookfield in the process or at least politely suggest that the Board thinks the offer, as now constituted, is too low and that they would be happy to consider a better offer from Brookfield or anyone else. 

This is not about following arbitrary rules that someone, whether WND of Rothschild, made up. It is about getting as many serious bidder to outbid each other to get the best deal for shareholders. The possible acquirers are customers. You try to get customers to buy. You do not tell them that you only accept VISA but not cash, so they can take their money and go home.