I speculated on another board with a different acquisition that nothing is guaranteed based on what we were seeing with Elon Musk and Twitter. You just absolutely never know until the deal is finalized, just like you can't even celebrate a 3 TD lead in the 4th quarter. I didn't really see this happening though - and it caught us off guard on a Saturday.
You're right on the merger candidate having to be good. I'm dating myself here but now it feels like an episode of Let's Make a Deal. It could be a great deal or a really crummy one. That's why I hold here, and only add more on panic. JSW on here could be right - we don't know if it could drop to 3/4 on further panic. Who can really say?