They do not need to have to announce a company to merge before terminating custodianship. That just means the company is now in good standing and doesn’t need a custodian. Have you never played a RM before and do you not actually read the court filings? Start there…
Definitely a company coming in here as stated. Moody/Denunzio would not make a statement signaling a new company without having the candidate.
How could they say that if they did not know the candidate? You do not say the shareholders will be happy and the company fruitful if they just threw another shell on the pile.