Understood. From a purely neutral perspective, I cringe at the notion that two corporate entities might 'trust' each other to the point where no written description of their common understanding of an undertaking is executed prior to a public communication about said undertaking... That would be the worse case scenario for me here: that there was actually no written agreement, but the company pushed out a market sensitive announcement anyway.
Trust in business comes via agreements rather than being demonstrated by the absence of them. And the trust we are really talking about here is the trust of shareholders. If CEO A and CEO B want to trust each other, that's... beautiful? But they can't ask their shareholders to buy into their trust, A price sensitive announcement would be exactly that: a signal that the stock just became more valuable based on a relationship the two CEOs want us to trust exists, without any written agreement/contract/MOU.
Thankfully, I consider it HIGHLY unlikely that there was no written agreement, so no real grounds for me to get antsy about that level of incompetence!
(20min delay)