Investors should probably view the shareholder rights plan neutrally and focus instead on if they trust management to act in their interests, whether that management combines the company with another or keeps it independent. Negative income instead of loss.
Corporations have PR departments too, of course.
So investors should be skeptical. Put another way, what management wants is friendly. What it objects to is unfriendly. Shareholders must evaluate management before investing and determine if they can place trust in it. Investors do have some legal protections against management and board misbehavior.