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It doesn't matter what the CEO wants, if a company makes a hostile bid. Oracle does this all the time.It is up to the board and shareholders.
You are relatively correct in your statement however perhaps I wasnt clear in my opinion. The company is set up for growth. CEO is also Chairman of the Board and they are planning on growth not planning/expecting any level of takeover. Doesnt appear any other software/hardware vendor is accumulating shares. Wouldnt now be a good time to take over INFA with the stock trading at a recent low point?