RE:RE:I admit, I'm confused!
Frankly, I don't see any trust. The entire document describes in detail what Cannimed can and cannot do. It gives me the sense it's still a take-over not friendly merger. I don't think they have any trust in the Cannimed's CEO.
The termination fees are biased towards Aurora. They get to inspect facilities, get trade secrets etc. In a true merger, things are more mutual.
Breakup fee of $43.5M is equal even though the market cap is quite different.
The Offer stipulates the law suits have to be retracted but this has not been done? In a friendlier agreement, this would be a #1 priority. It will be interesting how quickly they move with this?
My head says buy APH until the dust settles on this entire take over. But here is something very attractive about CMED and I don't think corporate negotiations worry too much about bad blood. As they say "it's just business".