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JFT, I think one can reasonably believe both that they should "do it right because this deal will change IOC forever"...and at the same time also believe that this has taken quite a long time. At some point, will the unending, optimistic, supportive explanations ring hollow even to you?
If the major points were agreed upon months ago, we should have a deal by now. I do not buy the theory that routine drafting by the lawyers (even on a very complex deal) can't be accomplished in a period of two months. I think there is likely another explanation that is more complex than "they are just trying to get it right". One possible explanation might be that they are simultaneously engaged in buyout negotiations and are therefore intentionally waiting to finalize the XOM deal. This is obviously just one pssible explanation, but as each additional day passes, I'm more convinced it isn't just an issue of drafting the language.
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What he said.