The problem with allowing an acquisition to proceed just to save the company being acquired from failing is you end up with deals being structured to intentionally to cause harm if the deal collapses

Look at what Kroger is doing with Albertson's for an example. If that merger fails, it's very likely Albertson's will go bankrupt because the shareholders looted the company of all their assets to ensure it can only survive if it's acquired

https://www.washingtonpost.com/business/2022/11/03/albertson...