the market is always right, page-2

Can't argue with that. The market didn't believe the deal would go through. The market was right.

But what could Tony do about it until it became official? Just reappear on HC and try to reassure holders. Beyond that it he had to take Timeone on face value.

As soon as it became official, Tony started dialogue with Timeone to make concessions. When that failed he looked elsewhere. We don't know how it's progressing. Hopefully positively. But don't expect the 35c benchmark.