Hypothetical scenario;

(1) Hostile take-over bid is made

(2)Share-holder Rights Plan is activated

(3)All shareholders except Hostile Bidder now have 2x (twice) the number of shares previously held

(4) Reverse Split @2for 1

(5) All shareholders now have the same number of shares as before hostile bid, except the hostile party, which now has half the number of shares.

Am I missing something, is there some reason why this might not be possible in practice?

I base this on 'preparing for a possible hostile bid' as the motive for seeking the S.H. permission for the RIGHT to do a Reverse Split, and not for permission to actually do this Split.