I have the feeling that the Board and Chair are / were not taking a commercial view of the GTC transaction (easy for me to say in hindsight). The CEO was announcing from the other side of the world (he commented in the video re time zones).
A person needs to be on the ground and over any jet lag before making and type of important decisions, not just major business decisions.
Also, the Boards should have had views from major shareholders about doing this type of deal and the commerce of it in a hypothetical way, before proceeding with the transaction.
I suspect that being lawyers, and thinking like lawyers do and they thought they know best, and they did not.
Ann: Update on termination of GTC transaction, page-15
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