Incitec Pivot Ltd T.IPL

RE:RE:RE:RE:RE:the break fee will be deemed to have violated law

[bttmfischer]

Ariahp,the  the Break Fee, also known as the "Poison Pill" is defense mechanism against hostile takeovers of smaller firms by others. I have not heard it to be declared unlawful so far.
In this case though, I believe the fee was not IPL's condition to the merger, but PPL's. 
It was designed to make a substantial raise in BF's bid too costly by paying a large penalty to the loser of the bidding(PPL).
In a few hours we will find out what interpretation ASC adopted to base their Decision/Ruling on.
It will be interesting.