"- Capri + WSA + some other major shareholders declare that they...

"- Capri + WSA + some other major shareholders declare that they want to rip off this most stupid deal of the year. Therefore no deal with SQM."

I think you mean "rip up" rather than "rip off".

But consider (image excerpted below is from the announcement of the deal with my annotations) -


First, I am not sure that there are many "transactions of this type" so I'm not sure anything is "customary".

The binding letter is already signed but the establishment of the JV is subject to conditions precedent including points 2 (which relates to SQM's opinion) and points 4 which relates to "other necessary third-party approvals".

KDR and SQM are the parties. So third parties are parties other than KDR corporate and SQM corporate.

Maybe shareholders (especially a majority of shareholders voting together perhaps in a special general meeting) might constitute a third-party whose approval would be a condition precedent.

In the absence of a majority shareholder position against the deal though, I believe KDR management are entitled to presume they have shareholder support to act in the shareholders interests. And they are entitled to try to communicate the benefits of the deal. All in my opinion.

Please note - I am not currently a shareholder.