Shamrock its pretty usual for management of a targeted company in a takeover to claim everything is getting better and all of a sudden they will make great profits and everything will be ok.
Its a standard tactic to buy time and if it doesn't work management
1.) find other factors to blame
2.) claim targets were always optimistic but market turned
3.) blame the company targeting you for additional cost
4.) make sure their severance package has been updated
If the takeover happens as senior management you can then seek new jobs claiming you had turned the corner and things were getting better and acquiring company got it wrong. Its a pretty standard play book.