Yeah, unfortunately, the truth is probably that they are regrouping and planning a different and more defensible path to the same outcome, and will just try this again in a few years.
"If PIR is able to provide additional information that resolves the concerns raised by the Board, PIR remains able to re-submit or initiate a new Change of Control Request."
That's how they concluded, leaving the door open if they can manage to get past this hurdle.
