RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Againjciarke
Break Deal is where managenment negotiates a buyout offer with a high cost to any other competing offers. For instance Eldorado buyout of Integra,
The Arrangement Agreement includes customary provisions, including non-solicitation of alternative transactions, a right to match superior proposals in favor of Eldorado and fiduciary-out provisions. Integra has agreed to pay a termination fee of approximately C$18 million to Eldorado upon the occurrence of certain termination events.
This is a negotiating tactic used to wrench the best offer possible from a company,,, like Rio.
No one knows what Paul is up to, @$2.50 the market does not indicate we will see $6.00 USD Soon !
M2
PS
The break Deal sucked because it locked out anyone else from bidding in ICG's case !