YRI/GFL Merger Termination Fees
The terminaton fees associated with this deal are US$300 million to GFL, US$450 million to YRI. If one party wants out of the deal they will have to pay the termination fee. Does this still apply if YRI shareholders vote down the deal? With a 75% approval requirement, and the lack of a premium to where the YRI share price was when the deal was announced, it does not appear this deal is a sure thing for getting approved and it will depend on the institutional shareholders voting for the deal.