RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The Real Question to be Answered for TodayMikepal wrote: Wascallywabbit....the only thing we really need to find out - as I stated first thing this am. as the real question.....does the binding agreement allow TST to accept competing offers or is this a done deal based on shareholder vote: I am digging hard to find answer....have posted same question to some of my other investment BBs....mixed answers - we really need to find this out...but, HOW :)?
Just read the news.
The Agreement also contains customary deal protection mechanisms, including no shop provisions and
a mutual $2.5 million breakup fee payable by Telesta or ProMetic in specified circumstances.
If there's a breakup fee is because they can back out of the deal
Also look here to know what is a backup fee
https://en.wikipedia.org/wiki/Breakup_fee