DrDann,Maybe.... My guess is that originally TXN Management/RBS...

DrDann,

Maybe.... My guess is that originally TXN Management/RBS were chasing a substantially higher price and they dropped back to the current deal when they began to run out of time.

It is possible that some of the companies that originally went through the data room and had a higher price indicated to them come back for a second swing.

Particularly when management have endorsed the SEA deal = they are effectively saying the current deal meets the reserve and its on the market.

In any event I can't imagine why SEA would have agreed to a $1m breakfee unless TXN pushed hard for it and I can't imagine why TXN pushed hard for it unless they thought there was a distinct possibility they'd need it.