At this point why would thq even bother to announce positive news ahead of the cc since they know that those news alone will not move the stock. I have a feeling it was to convince the other stockholders that thq is worth the offer price. Just a gut feeling here.
You should also have in mind that there are still a lot of short positions. I cannot imagine that they take the risk of holding their positions until May 15th.
There is a lot of upward pressure.
So the question is would they not tell us the whole story? I mean, would they tell us $75 million in cash when it is really going to be $90 million? It seems like they would want to keep the real good news for May 15th, and not overstate.
I mean what if instead of $160 million it was really $185 million. It seems to make sense they would not want to overstate on the preannoucement and be careful therefore being conservative.
I'd say they saw the stock drifting to new lows with no sign of imminent natural recovery in the price so they had to put a positive spin on it to get it going a little, also to boost the price for a higher offer.
Because of the Darksiders 2 delay, it happened the same day. I'm sure they were trying to fend off a stock price crash and bankruptcy fears as they wouldn't have a new release and it's revenue for two more months. Then they'd have all these funds calling them on the presidential red phone and harassing them.