Certainly valid, for what it's worth (an opinion, as all can have). The flip side of that view is who wants to be "the one" who hesitated and allowed a company's competitor to acquire an asset. After all, all longs have discussed how much B and K might POTENTIALLY be worth.
Probably not a real issue anyway as boards probably make most of such decisions, especially for those "large institutions".

IMO, it could take LONGER, it might NEVER happen, or it could happen TODAY. I don't know the answer any more than you do.