OTCPK:ICPVF - Post by User
Comment by
Oldfart74on Jul 19, 2021 11:36am
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Post# 33569303
RE:RE:RE:RE:Inter Pipeline and nothing else.
RE:RE:RE:RE:Inter Pipeline and nothing else.alkhor wrote: Oldfart74 wrote: Dementedaccount wrote: Is the break fee payable if the shareholder vote down the PPL deal?
Yes
I'm pretty sure the break fee is payable if the deal does not go through because IPL management chose to go another route such as accepting the Brookfield offer. If shareholders vote down the deal then it is not payable, IPL management cannot control shareholders votes and so cannot guarantee them.
Being pretty sure is not good enough. The terms in the Agreement govern this situation which provides that the Fee is payable if "the Arrangement Resolution shall have failed to receive the requisite vote of the IPL Shareholders to approve such resolution at the IPL Shareholders' Meeting (including any adjournment or postponement thereof) in accordance with the Interim Order"