"he should have no trouble looking out for our interests and defend his statement"

And so I repeat with further explanation....his "defending his statement" has nothing to do with how the company sells ultimately other than to recommend to shareholders not to take a buyout under $5. That is as much of a defense as he can make and the rest is up to shareholders. In effect he simply said he would not recommend a sale under $5, not that he could ensure that the company wouldn't sell under $5.