Who benefits when Delta Lloyd’s executive board rejects a takeover bid

http://www.wsj.com/articles/delta-lloyd-rejects-nn-groups-takeover-bid-1475820920

Questions:

1. Did Delta Lloyd reject the bid or did the executive board of Delta Lloyd reject the bid?
2. Prior to the bid, did the buyers and sellers in the stock market believe that Delta Lloyd's "capital position [and] opportunity to improve further capital generation and dividends” warranted a 30% increase in the market value of Delta Lloyd?
3. Whose opinion of the value of a company is more accurate, the buyers and sellers in the stock market or the executive board? 
4. Did the offer help or hurt shareholders relative to their position before the bid?
5. Could the shareholders benefit from the executive board's decision to reject the bid? If so, how?
6. Could the members of the executive board benefit from the decision to reject? If so, how?