There's a much higher than normal level of uncertainty...

There's a much higher than normal level of uncertainty associated with this offer because the directors were forced to disclose before the deal was finalised and agreed. Normally the terms, precedents and conditions of the deed would have been finalised before public announcement would be made. But the news broke too soon that negotiations were under way. The leak represents a tremendous breach of trust by one of the parties. There's a chance that this will affect the course of further negotiations.