Yet again, missing the point. As has been pointed out several...

Yet again, missing the point.

As has been pointed out several times, anyone spending USD250m on anything would have to be an utter mug not to do their DD before signing an unconditional ASA and be quite sure the deal they were signing was the best deal going around.

So, how can there be a risk that the buyer will be swamped with offers so much better than the AZZ deal that it will choose to wilfully default on the AZZ deal? Answer: there can only be such a risk if the buyer is a complete moron and didn't do any DD, or their DD was woefully inadequate.

And if either such situation exists, all the furore about this deal is guaranteed to have alerted the moronic buyer to that fact, and they will now themselves be working furiously to identify all those deals that AZZ doesn't want them to find out about, and regardless of their being identified they will default on the AZZ deal.

FD