Apa itu Deal spread, break price, implied deal probability?

The deal spread is the offered consideration divided by the target’s price, minus one. The break price is the price at which the target would trade if the deal failed. The implied deal probability is the completion probability that makes the target’s price the discounted average of the consideration and the break price: $p = (A - B)/(K - B)$ for price $A$, offer $K$ and break price $B$, ignoring discounting.