PPThey mentioned the option of "termination by either party"...

PP

They mentioned the option of "termination by either party" tells me that there is surely a possibility of deal to fall over.
"Encouraging and productive negotiations" tells me that they are still negotiating on something, most probably offer...

Since SDL is now long on speculation and short on facts, I'll throw in my 2c

How about SDL terminating the SIA agreement because they are having "Encouraging and productive negotiations" with another party!
I don't see why SDL would include the phrase "termination by either party" in the announcement to try and scare HL. Hasn't worked so far!