My take on it....
Malkin was just pissed at Hextall for the constant different red lines. First 2x$5M, then 3x6M, then "maybe we can do 4 years, 48 hours before free agency :\.
I bet Malkin got emotional and said "f*ck it", I'm trying FA. Hexy was likely focused on all the other moving parts, and de-prioritized Malkin. Probably said "well Malkin has made his decision" and dealt with Rackell, which actually wasn't the bad approach.
Then likely a 3rd person (Crosby? Burke? Mario? New ownership?) just probably talked them both back to the table.
I doubt there was much back and forth next...
Hexy probably just said, we want to make you happy, and give you 4 years at the same cap hit as Letang.
Malkin said...yeah!
Remember, I'm sure Malkin also has his ear filled by his wife who believes that he should/could be #1 on another team. 100% true in the past. Today...probably not on a real playoff team.
Everything above...pure speculation!