I would presume that with there now being "another show in town", then some of the reasons for the 10,000 hours bid being rejected may be down to the detail of what these people may be lining up, and as such, the BoD probably aren't in the best position to go into too much detail just yet, to satisfy those clamouring for an explanation. I'm sure they will in the fullness of time if asked.
As a potential buyer, the BoD gave RA a seat on the board, and have stuck by him for almost 3 years, and countless deadlines. In any form of business, this is extremely flexible and generous. That this flexibility and generosity expired today shouldn't have come as any great surprise, especially if someone else rolls up who may actually have their bullets in the chamber.