very informative post Boston (as usual).. Just thought I would mention, I have been thinking that the difficulties Z has been having with TM could be one of the main reasons why the A to Z connection has been so secretive and now Merger subject is on high radio silence... and also why Z wanted (initially to have A get approvals as advanced as possible) prior to exercising (maybe through the loi with an option or right of first refusal) on a merger... Yes there is a possibility that Z has amda completely tied up with a claus in the LOI agreement. They may think like this:
With TM going poorly it would not look good to have a vastly superior product on the shelf, but not quite ready to sell... Who would want to buy crap when they can see if they wait a bit they get the gold standard... IMO this would tank TM (more than it already has) and so they likely want to make a switch as quickly away from TM to SiNi, as possible and without the market getting much advance notice.. to keep TM sales chugging along as good as possible until it is jettisoned completely, and suddenly..with SiNi coming front and centre as quick as possible...
So yes Boston as you have alluded to, I think this secrecy/non-disclosure language is laid down in contract also so amda is to some extent at least highly likely prevented from disclosure until a predetermined time...
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