This move by the pirates looks to be strategic. If I understand...

This move by the pirates looks to be strategic. If I understand the situation correctly, by cancelling the defeating conditions this allows JBL to convert all of the BHD acceptances even though they did not reach 50.1%. Whereas originally, it was 50.1% or nothing. In the event that we get some last minute withdrawals from HML to get below 50% it would also ensure they still convert whataver percentage acceptances they have.

It's important to note that this announcement only affects JBL's rights in this transaction. HML and BHD shareholders can still reject the offer from JBL.