The lawyers must be having fun with the language (and making a bunch of $$$). Unusual for the ripcord to allow this many multiple cycles. Maybe GaAs labs outsmarted themselves? As far as superior offer hard to tell without reading the actual GaAs initial agreement and what bailout or break conditions are in the agreement. Could be stuff like: price, conditions, closing date, bonifides, due diligence prior to closing etc. Seems like this might continue for another cycle. Also could be that GaAs labs may take the position that they disagree that party A offer is superior. Hard to say???