Post by
8675309Jenny on Aug 29, 2014 11:13pm
Termination Fee is invalid - will not stand up in court
The time has come to find a hostile bid, that gets rid of management and Maha, who have shown no interest in doing anything to date. We now have precident to win court that the 3m break fee is outrageous. The standard amount is 3% of the deal price - not 30%, which should help in our quest to defeat this deal and get a new bidder. Here is the supporting evidence for that - in writing in the press ......The termination fee of 345 million Canadian dollars is equal to roughly 3% of the deal's value, a standard amount. It would be triggered if Tim Hortons abandons the deal for a better offer, or if its board changed its recommendation to shareholders supporting
Comment by
roscoe74 on Aug 30, 2014 3:52pm
Speaking of the courts, are the insiders enthusiastic about this deal because going to the knackers in bankruptcy will mean losing their options and 'performance awards' as well as any bonuses and severance for doing such a stellar job.
Comment by
Rawliekins on Sep 01, 2014 9:28am
I would be happy with management getting a bonus if they did the right thing and sold key assets rather than give away the company for a song. This company needs a hostile takeover.