Painted Pony Pete Ltd PDPYF

This Positive ?

[Mrlongpants]

The Arrangement Agreement provides for a non-completion fee of $20 million, payable in the event that the Transaction is not completed or is terminated in certain circumstances, including if Painted Pony enters into an agreement with respect to a superior proposal or if the Board withdraws or modifies its recommendation with respect to the Transaction.

Read this at
 https://paintedpony.ca/investors/news-releases/news-releases-details/2020/Painted-Pony-Enters-into-Agreement-to-be-Acquired-by-Canadian-Natural-Resources-Limited/default.aspx 

GLTALongs

[Oldnagger]

I believe the 20 million dollars will not be payable in the event of a no vote by shareholders and neither would CNRL maintain a right of first refusal. At worst a no vote would clear the path for a substantially higher offer I would appreciate any commente

[Squint1]

....but if it is simply voted down...then no fee is paid ??  Correct ?

[Oldnagger]

Not really sure but  from memory someone knowledgeable has already posted that here.

[Maxmoe]

the break fee only comes into play if another bidder emerges and wins. If cnq matches it does not.  Or if it's a serious buyer that has in-house weasels (lawyers) they can fight the 20 mill for years.  And JF is still a dik. Wonder which is more, posters he has on ignore, or posters that have him on ignore. I expect the latter. SH used to publish both. I'm Blissfully without a

[JohnFriesen]

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