As a matter of fact, by eliminating the receiver termination, you would get 50% of the driver's open circuit voltage in the receiver end, without any problems. That configuration is called "series termination", and there the driver side is terminated correctly. Usually one uses a low-impedance driver with a resistor in series. In that termination mode the driver end produces only 50% to the cable, as you shunt/waste half of the signal in the driver side's extra terminator. When we look at the receiver side, the incoming signal in receiver end is fully reflected from an "open" (high-impedance) transmission line end, and that reflection lifts the received signal to double of the incoming one (which is now only 1/4 of the generator output, giving in the end 1/2 of generator's voltage). When the reflection arrives back to the driver side, it is absorbed by the termination, and is not re-reflected / disturbing later.
That is about the best you can do if you can't have lower impedance driver sending the signal out to the transmission line.