Maybe the negotiations established that the rights were worth $X, but Disney wanted $X + 1 billion worth of stock? While many startups will take anyone's money

Maybe the negotiations established that the rights were worth $X, but Disney wanted $X + 1 billion worth of stock? While many startups will take anyone's money, it can be hard to invest in some. And the most desirable are the hardest. So maybe Disney was using the IP negotiations to open the door?