That's ultimately what I think it came down too, TXN was running...

That's ultimately what I think it came down too, TXN was running out of time ASAP (before leases started expiring).

I don't rate the chances of a counter-bid, due to:

1. I'm guessing TXN didn't want to sell for cash due to taxation reasons. Hence the merger proposal being the best option. That already would rule out alot of companies (not willing to dilute registry, aren't an appropriate fit for TXN holders, as deemed by the company..... i.e. shares are listed on overseas stock exchanges etc).

2. TXN's directors unanimously agree. That's basically the waving of the white flag.

Provided SEA don't face losing leases via expiration, the deal should hopefully become a bit sweeter for TXN over the next couple of months.