I have seen some shocking answers here. As @ksksat saying, it cant be decided by board easily. Has to be voted
Also, this is could be a “Arbitrage Opportunity”. Read about it
Not all companies , when delisted would fall in price. There are many many instances, where price shoots up because , Management wants to delist at even higher price. Example - Orient & few others which was delisted at 2 or 3 times.
Now , key is to look at past and present. In past Vedanta tried to delist in 2001 or 02 but couldnt do it and backed out. When these backing out happens, it erodes confidence and price fell
So, be vigilant but also smell for opportunities. And always take your own decision based on your risk.