That was still cheap.

But what was the point of that move? Was it just a bit of fake haggling to stop the markets going into meltdown and ruin the party for everyone?

Or had someone made their money by then, so it didn't matter if prices started to climb back up again?

Cheap, yes. For one, the deal is a stock trade. There is no JPM cash on that table. And if I remember correctly, the $10 ps revision to the Merger Agreement occurred at month end. By then fin/biz reporters had detected alleged "insider trading" by Coyne et al --personal stakes >3% plus fund managers-- to pump the share market value after 16 March. Their strategy, I imagine, was to leverage threats of shareholders' litigation over the initial strike price. I don't know if there have been further revisions to the Merger Agreement JPM option price, $2.00 ps, on BSC shell, operations remaing liquidation and settlements.

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