Quote:
Originally Posted by Bene Gesserit
OK how about this. Maybe many of us thought the deal was "very likely to go ahead" because it seemed to be the only real offer on the table. I follow this thread closely and very few if any folks were talking about a late game power play by PS, do you think GBT or the DOJ or anyone expected this kind of move? I sure don't know myself!
I, too, thought the GBT deal would eventually be consummated, irrespective of the fact the deal seemed likely to be pretty terrible for players. Remember, the only reason it was the "only real offer on the table" during the exclusive negotiating period, is that it was in fact an exclusive negotiating period, and no one else could, by law, make an offer.
Yes, I recognize that prior to GBT's signing of the intent letter, there were no other offers...I'm really only talking about the last several months.
I admit I completely underestimated GBT's ability to crap the bed, when they had six months to close the deal. The only reason there was any late offer by PS, is that GBT approached this in such a horrifically incompetent manner, and totally misread the DOJ's intention to actually do their job.