A buyer or partner who's also privy to all this information might make a move before it comes to pass, but I don't believe any company would pay 100 times the current price, and I think that's the least that LP would take.
I do agree that the large multiple is more likely to happen after an MAA approval. But it could then be a lot more than the 2X market cap rule of thumb. This can still happen before MAA approval as well, but this is less likely as there would be more risk involved prior to approval.