That would be really sharp on their part.
Steal the thunder from the dumb do nothing regulators and harvest all the uncertainty generate and abetted by the shorts and thus lower their actual acquisition cost.
It is an irregular form of trade credit (delay of closing) and harvesting the down draft aided by the do nothing judicial and regulators.
I do not know if it is actually not legal. However, It should be. Then again with the congress we have, who knows.
I am sitting tight on my short term position as the last thing I want to do is pay short term capital gain tax.
Specially so long as they have preferential tax status for short selling hedgies etc.
Maybe all of us knuckle head resisting investors are finally in a truly contrarian position and eventually will reap the big wind fall once congress come to their senses and abolish short selling. It would assuage some of the uncertainty that is for sure.
I wonder if anyone noticed the merger agreement says no interest will be paid on the merger consideration. I assume if there is delay, Apollo will say the agreement specifically absolves them from paying interest for delay. Cooper's experienced, high-priced lawyers allowed that to be put in there.