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Thursday, July 10, 2008 10:26:44 AM
If Palmer knows the merger as announced was nil, would they be inclined to tell anyone such status as to rock the boat in any direction until absolutely necessary? No telling what kind of wolves such a failure would bring to the door.
I remember DNAG, in their loi and acquisition of BioFrontera, never announced the deal had failed or anything else. It took bagholders weeks and months to convince themselves of being had.
The AVWI loi prescribes information be given throughout the process, as most otc's would, if nothing more than to fluff it up with repeated news or "our diligence in the matter continues" or "progress is being made" statements. Nothing of the sort has arrived. If "quiet period" were a premise, then one could argue this had to be known before making such a statement in the loi. The deal smells of default and failure or worse.
I'm with you...... 95% it does not happen.
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