Has Discovery Fund killed the Strategic Transaction?

Its hard not to dwell on this issue but after reading the proxy document today, depending on the conversion rate of the Class A's there is a wide range of potential additional common shares (e.g. 10 million to 40 million) as a result of the trigger event/non trigger event.

If there are indeed "interested parties" interested in an equity stake in Unilife, why would said parties proceed with the transaction when they have no idea how much their equity stake might be diluted by future conversions? Would they insist on a mechanism to ring fence their equity portion?

In other words, has Discovery Fund significantly delayed or even risked the strategic transaction? If so, how does Discovery Fund benefit? Say the strategic transaction goes to crap, can Discovery Fund actually make money out of this situation? For example, would they be able to sell their 7 million common shares at a reasonable price if the market realizes the strategic transaction is in doubt, and would they try to sell those shares when they are subject to arbitration? Together with redemption of their 540 remaining Class A's, would the whole exercise even be worth it to them i.e. would they make money on their $7.9 million investment?

Should Alan Shortall buy an economy ticket to the Cayman Islands and meet with the head of Discovery Fund to reconsider the trigger event? Should arbitration happen sooner rather than later? The announcement indicated they have "reserved the right" rather than "sought arbitration".