What difference does the size of a BOA make? Last time we got a TH on Friday and then the announcement pre market on the Monday. The only reason I can assume for this was that the deal was almost finalised but something was still sticking, probably on GLC's side with the details they wanted sorted before naming them as the counterparty and there was a risk of information being discovered before the announcement was made.
However as I said in my original post presuming there was no risk of information spread and unfair trading conditions to those in the know what benefit does a TH serve? In this instance what difference is there between the situation where you announce a TH Friday morning and then announce the BOA Monday morning versus a straight announcement on the Monday morning of the BOA? Trading conditions and timing of the release are exactly the same, it just prevented trading on the Friday when it can be assumed in the case of the first BOA there was risk of information being spread.
PLS chart, page-1741
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