Funny thing is that I posted such a scenario a couple of months ago, and it got about as much attention then as it did this time.  This, IMO, is the ideal scenario.  Make the cash work for you in the strongest ways possible.  I think this scenario is possible, and there are probably others that equally favorable. 

With the scenario I suggest, where's the risk?  And assumption of risk is the one thing I see as a potential problem in the acquisition scenario (and everyone appears to overlook this aspect).  The objective should be to remove risk, not add to it, IMO.

JMHOs,

SGE