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sounds like Mordechai is wrong. the courts are not trying to create very easy loopholes - with you on this Andrew: you just wait til near the end of a financing period to break a deal.

SP: "is promise as closely as possible, because monetary damages are somehow inadequate to fix the harm."

The harm in this case isn't to the company's business' its to the merger not being completed. So call it a call option on the underlying business at 103$ ish.

As well at some point SIMO holders just agree to take a bond in place of cash; ie: the debtors of the deal (30$ cash+ 60$ bond + 0.1388) is a better option for the company than 7$/share.

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