This article considers whether a bidder can extricate themselves from previously announced transactions, such as takeover bids and shareholder schemes of arrangement. As happens in periods of economic instability, some bidders are seeking to extricate themselves from announced deals during the novel coronavirus disease (COVID-19) pandemic. This may be possible if there is a breach of a bid condition, but it typically gives rise to disputes and uncertainty, particularly if the bidder is proceeding under a scheme of arrangement.