IF (big if) Apple was interesting in taking us out for any sort of reasonable number they would have no need to wait for the SRP to expire, they would just present the offer, and if adequate, the company would present it to the shareholders for consideration.

IF (big if) the company knew that Apple was going to make an offer and felt that it was not going to be adequate, the company would not allow the SRP to expire.

I don't think that is a logical supposition.