Since Astrellas couldn't find the support at $8.50, they might want to up there offer to a level where shareholders are more likely to be agreeable to. The extended deal date gives them time to renegotiate the offer, if they really want the company. At the same time, the extended timeline allows another company, like Biotime, to enter the game, and put their offer on the table. Or , even another company. Astrellas is operating from a position of weakness now. They can win, but they'll have to change, and sweeten, the deal.
For all the shares being sold fro $8.50, there is a buyer. That buyer now owns a ton of shares at $8.50. So, if the the sale of the company does not go through, wouldn't the owners at $8.50 be creating the new price floor?
How and when does that benefit shareholders? Seems like if there are lots of lawsuits, that those lawsuits will take a lot of time to be heard, and decided. In the meantime share holders continue to hold on to shares without financially benefitting from that. So , basically, getting back to my question, how and when, does all of this benefit shareholders?