I know you and I briefly touched on this on another post about TMDI knowing whether a BO was coming or not. My question is that why would you agree to a lock up (loan) which lights the path forward to a BO when you haven't yet agreed on a BO value? As you noted that in of itself is a process.
What if MDT values TMDI at $2.5B and TMDI sees itself at $5 billion. I mean wouldn't you only lock up something if the path forward was clear? That is why I felt the milestones were put in place b/c TMDI wanted more than MDT offered (big assumption) and in order for MDT to get there they needed to take some risk off by these milestones being completed.
All of this is around our assumption that MDT is on path to acquiring TMDI and if that is true there must be some sort of gentleman's agreement on the BO value, no? Again, why lock up with 1 company if you are way apart in the value of your, TMDI's, company. I probably just don't know how these things work so that is adding to my confusion of the process going on here between these 2 companies.
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