Because someone may want to take the first legal opportunity, to leverage an adjustment, or walk away.Jean-Luc Monette wrote: ↑Tue Sep 29, 2020 10:30 am Transport Canada’s report is still on Minister Garneau’s desk, and the EU Competition Board (or whatever name...) are still evaluating the dossier.
How can the offer not be extended?
Both companies have a duty to their shareholders. They won’t and can’t just leave them hanging. Yet they are. The only reason for not publicly announcing an extension is that the extension is currently in limbo. That there is nothing to disclose either way. That ongoing discussions are taking place.
The reasons for that limbo status, or any possible alterations, must be kept behind closed doors for securities reasons. When a definitive outcome has been reached it has to announced to the public all at once.
It is possible that the definitive outcome will simply be an extension. It is also possible that the definitive outcome is something else.