Last week, shareholders in ASX-listed Nitro delivered a widely anticipated smack down to potential acquirer Alludo that was like watching an inevitable, unavoidable car crash in slow motion.

In bidding for Nitro, Ottawa-based Alludo had managed to outmanoeuvre a competing admirer and secure the board’s unanimous recommendation, including that of the founder. But despite this public display of affection, the deal was comprehensively rebuffed by shareholders.