Add another scenario, as long as we're talking hypotheticals:
D) Mgt knows they ought to sell @ $30 or whatever may have been offered, but they aren't happy with their fate after the merger, i.e. they don't want to be thrown out after the merger, or they want a specific position afterwards, or they didn't get a big enough golden parachute, ... Well, this becomes a deal breaker, and finally FORE mgt says "no". Sidenote: this is not that far from the realm of possibility, recall that it was rumored that David House, the former BAY CEO did exactly this when BAY was pressed by Nortel for a merger. I believe he ended up with some big V.P. job at Nortel AFTER BAY was bought out by Nortel.
Ericcson, or whoever the suitor is, is forced to reconsider their offer. Maybe they've had enough, and feel like FORE is not "playing ball", and decide to forget about it. Then again, maybe their opening bid was low, and they're willing to go up. Who knows. One thing's certain, time will tell.
-John |
