SHE BRIEFED THE CHAIRMAN ON THE SHAREHOLDER ANALYSIS. HE CALLED THE BID TOILET WATER ON TELEVISION. THE POISON PILL REQUIRED EUROPEAN COMMISSION APPROVAL.

Deveraux publicly dismissed Vardhan's €18.6 billion bid as "toilet water," a scripted response that showed the company's misjudgments. Despite clear shareholder intentions indicating 61% support for the bid, the Montalier board remained in denial. They lost the battle and ultimately the company.