Exactly. People are so stupid it literally hurts my brain to read their comments. If a company is in negotiations on a presumably multi-billion dollar deal, they don't file an 8-K essentially saying, "Hey, guys, just so ya know, we're in negotiations with Big Pharma for a buyout of several billion dollars at least! Load up on shares now, bros! We expect this done by end of next month!"
There are NDA's involved with negotiations because it's not only insider information, but the selling company is often opening up their business, including accounting, to the prospective buyer. And until a deal is physically signed, neither company has any legal duty to disclose anything publicly, even if they could ... which they couldn't.
Jesus effing Christ.
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