Yes. Many are done with NDAs, Non Disclosure Agreements in the dark, and WHAM, Surprise, news drops and filings.
We know they have more than one target deal, and one may depend on the other,
so a LOI which can be binding or non binding, sets the Parameters of the deal and lists the DD and prep work needed.
Kind of like signing a contract (LOI) to buy a house with a down payment.
Then the DD, and more formal closing is worked on, then finished and then it is closed. There may be more than deal closed. In stages?
Like I said, they seem to be working on several synergistic deals. So there are likely to be early stages, and steady rally news IMO. Which is better
than a one news event....
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