Leverage to the next Pogo Deposit? AUL -> WRM, page-74

It's a White Rock Regulated Event as defined under the Merger Implementation Agreement (See (e)(i) on page 10 under Section 1.1). AUL have the right to walk away from the deal without any break fees payable.

Deal struck at an implied WRM value of 55.7c per share - can't see why AUL shareholders should have to cop a now diluted interest in the merged entity as to what was originally agreed.

I can only see two outcomes from here - deal is either dead or WRM will sweeten to maintain agreed weighting in the combined entity.