BREAK FEE - APPROX $63M - IN THE EVENT THE UNS BID FAILSFortis got back to me today and they advise that in the event that their purchase of UNS gets squashed, the break fee will be approx $63M.
Not to sound pessimistic, but how come there are so many law firms involved in looking into the mechanics of the proposed takeover?? To name a few law Companies; such as Vincent Wong, Brodsky & Smith, Pomerantz,............the list goes on... Is this normal for so many law companies to get involved??
FTS is down lately, and yielding 4.30% as of today's close. Fundamentally, nothing has changed, I will look to buy some more and just put my portfolio on auto-pilot and just watch those ever increasing eligible dividends roll in........$1.28/ann......not too bad in my books...........
Best.............SHUMBA