OTCPK:ICPVF - Post by User
Post by
Oldfart74on Jul 17, 2021 3:13pm
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Post# 33565464
The Break Fee
The Break FeeAs I have previously posted, the Break Fee is absolutely normal in situations such as this. Don't take my word - this is the opinion of the Alberta Securities Commission. The IPL board conducted an auction and provided confidential information to all interested parties, including Brookfield. They negotiated long and hard with PPL and Brookfield. Eventually, they determined that the PPL proposal was the superior deal. However, in order to enter into a deal with PPL, a mutual Break Fee was required. As a result of the arrangement with PPL, Brookfield raised its bid significantly resulting in what is now an apparent superior bid to the PPL arrangement. Good work IPL Board.
To the unhinged poster who suggested "The IPL board solidified their position with the $350M break fee.", let me just point out that there is no agreement with PPL that any IPL Directors will be appointed to the PPL Board.