Pfizer has incurred substantial legal fees for this TO process so far, hence I doubt they will just walk at any point
imagine the top executives have a meeting and are asked by their superiors why the deal is got stuck now
and the superiors say that they cannot afford to walk from this deal now for reputation and cost reasons
so I could imagine that the executives might say the following:
get the deal done, increase the price to the upper limit of the IER, that will give everyone a fuzzy feeling,
and it will save us a hell of a lot of trouble and legal fees doing it all over again, should the whole thing bounce
Plus we get the time advantage moving forward for winter season in the Northern hemisphere
Get it done!
My Analysis: No synergy value in valuation, page-10
Currently unlisted. Proposed listing date: 4 SEPTEMBER 2024 #