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Ryuu96 said:

Extended, I Am Shocked /s.

$3bn was nothing compared to the $20bn they would have lost in market valuation.

Termination fee is now $4.5bn (that's fine, Microsoft ain't paying that cause the deal is going through).

Deal price is now effectively $96 a share (up from $95 a share), a $1 dividend + $95 a share original price.

With that I think it's safe to say that Microsoft had the advantage in negotiations.

Obviously, no company was willing to outbid the already high offer.

Not sure if any other company would be willing to outbid MS because I doubt ABK fished around in the timespan between working out this new deal with MS but the expected termination fee pretty much in line with what I felt ABK would seek.  There is still the chance the deal does not make it to the finish line so it was always in ABK best interest to squeeze a little more money from MS if things still goes sideways.