It's not enough to just do a poll and say that most shareholders are "happy." If there is even one owner, which there will be, who objects, you need to be able to show that decisions were in the best interest of the company. That doesn't mean said owner has to agree with them, but if there are deals that arguably favor outside companies then you will hear from either the SEC or that one shareholder.

The other comment saying "the law is above shareholder gain" is kind of missing the point thought--the law in question is specifically to protect the interest of shareholders.