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It became clear that Mr Morgan's fate lay in the hands of a small band of US shareholders.
The company is also listed on the New York stock exchange, and Burman revealed that its growing base of US shareholders may prompt it to leave the LSE.
Liberty and other US shareholders are trying to play footsie with ITV; which could eventually put Britain's largest commercial channel in the hands of Dr John Malone, resident of Colorado and who also now controls the UK's pay-cable platform Virgin Media, our largest producer, All3 and Discovery.
But because the Pfizer investors will end up with 56 per cent of the combined company, it will not fall foul of the US latest crackdown on inversions, ordered by President Barack Obama just last week, which only applies if US shareholders end up with more than 60 per cent of the merged firm.
"How can you take money from us shareholders and Cerberus, then tell us to stay silent?" one attendee asked.
The odd part, at least from a UK perspective, is why US shareholders appear so untroubled by the sight of miserable returns being earned on these multibillion piles.
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A decision in the Amsterdam court of appeal on Friday has cleared the way for approximately $352.6m £218.5mm) in compensation to be paid out to non-US shareholders.
Two influential US shareholder advisory firms, RiskMetrics and Glass Lewis, last week urged investors to vote for a split in the roles of chairman and chief executive at BoA.
But there will also be no more lush, adjacent pastures of satellite TV or Hollywood blockbusters to assure US shareholder peace when loss-making papers have to be supported.
"For reasons of size and US shareholder governance, none of these could possibly be dressed up as a merger - it would be a takeover," he said.
When they look at us as shareholders, do they view us as partners, and are we all trying to get rich together?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com