Oct 15 was the date when Zapata could solicit other offers. I do not think there was really an end date where it had to be completed.
Seems to me Smiths might consider bidding in the Chapter 11 auction now that they know the amount of L3's bid. There is an awful lot of money at stake in TSA's tunnel of truth so I imagine the competition won't stop now that IMSC is out of the picture and Morpho is part of Smiths. So anything is possible, given what went on in the past. We know L3 was the highest offer so whoever came in 2nd might consider bidding, if it was not Smiths, now that the amount of L3's offer is known.
I just reviewed the SEC filing for Zapata, the exact wording is:
"The LOI provides that Zapata may not solicit, initiate or enter into discussions, negotiations or transactions with any other party concerning the disposition of Zapata or any similar transaction until October 15, 2016. "
So there is nothing about what date it has to be completed by, but he can go out and solicit other offers after Oct 15.
