yes, slow Peter assumed a Jan. close because Peter did not understand acquisitions and the regulatory requirements.
The chance the transaction will close by the end of Jan. 2013, even if we were told the deal terms today, is small.
Management never said the deal would close in Jan.
And whatever price estimate Management made was a foolish thing to say that probably occurred only because they were in a proxy fight. Management had every reason to estimate that they could assure a higher ultimate price than their competitors. Anyone that relies on Management's estimate without taking the context into account, is an amateur.