what is going on?, page-2

I am suffering from financial blue balls here.

Here is a relevant quote by JC to Merger Market "'My expectation is that we are going to conclude a deal with what is currently a known party.' However, he added: 'Until I see completely executed documentation with a funds transfer I will keep all players in the deal alive right until the end'."

I am speculating here but this is what my crystal ball has told me.

There are two scenarios:
(1) The 'known party' referred to by JC in his statement to MergerMarket has gone cold;
(2) There is another buyer and there is now negotiation and a potential bidding war.

To wait another 20 days before an announcement is highly irritating. However I tend to favour the 'bidding war' scenario, because JC wouldn't be making these statements to third parties if he knew the deal had gone awry. On the flip side, the length of time requested seems to suggest that they could be scouting for other offers...? This combined with the 'neutral' language seems to suggest there is no fierce competition. There is a 'shortlist' of 'potential' buyers.

It is important to look also at what this announcement is NOT. It doesn't say there are two competing buyers. And it doesn't say that the negotiations have soured. It can truly be read either way. One path leads to riches, and the other path leads to pretty undesirable share prices...

Sleepless nights ahead.

Once again thank you to JP37 for providing MergerMarket articles.