I don't think they can start negotiations on a corp transaction until the technical results are released, they certainly cannot progress them.
takeover laws are designed to further three main takeover principles: a. the acquisition of control takes place in an efficient, competitive and informed market; b. target shareholders have a reasonable time to consider a control proposal and know the identity of the proponent, and c.target shareholders are all treated equally under any control proposal.
a. is most relevant - until the technical results are released, it is not an "informed market".
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