"If a deal were already done, it would be announced. " A few holes in your scenario. It would not have to be announced if contingent on approval. Also, I believe Linda would know continued dilution would bring SP down so would sign a deal not on future MC. I always believed she has a B/O price in her head and has shown she will not sell for less than her price. There are many B/Os with stock only, adjusted price per share.
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