SRB is in a good position here. Every extra 2 days LH have BD it costs them about 1 million pounds.

So, if IAG say 100 million and have to await regulatory approval then if that takes more then 200 days then that 100 million is just used to soak up the additional losses incurred.

However, if SRB says, here is 50 million and the deal is done in next to no time then LH might actually see some of the VS 50 million.

Assuming he is serious then he has actually put himself in a very good position here IMO.