sale, page-11

If enough new information has come to light to significantly affect the case for selling, then I would expect management to do what they have done, which is to say no deal.

If management had structured the deal to give themselves flexibility to reconsider in light of new data and back out - then I think this is fantastic. Basically they retained an option to back out of the deal if new information suggested they shouldn't.

New information now suggests that what they have is a lot more valuable than what they initially thought, so rather than selling it off for a song, they've elected to hold it because it is better value for shareholders.

The only people that might be peeved are those with a short term investment horizon because they're faced with locking in a loss, or having to hold out longer for the value to be realised.