moa999,
The difference between what you are saying and most of us is a single word 'intent'.
What would have happened is open to conjecture and debate and no one really knows what exactly would have happened given the unknown state of Allco and the current sub prime mess.
If you read his interview he still thinks it was a good offer and only suggests that it was the tens of millions in pay out to himself and the other managers that was the fly in the ointment.
The intent is still there and no regret other than with hindsight about the mechanics of the pay outs.
The other part is that he never tells the interviewer why exactly he is relieved that the deal did not go ahead.He only tells us that the issue of management involvement was a bad idea and that the equity group would have to negotiate what directors and managers they want after the sale.
This still does not address the issue of huge multi million dollar deals to upper company staff to endorse a deal even by tacit approval.