CDH bid is on

Had a quick review.
Looks like a major change is the China Rights deal. It was a flat $200m, now it is whatever a 3rd party would pay.
Looks a reasonable way forward.
Trading tomorrow will be interesting.


(iii)
if , despite the parties' respective best endeavours and good faith approach to the negotiations, they cannot reach agreement on terms for the formal legal agreement contemplated by clause 12
(a) (i) within 40 Business Days after the date of this deed, Sirtex agrees that it will not enter into any agreement (whether formal or informal) with a Third Party with respect to the grant by Sirtex of commercialisation rights for
the China market at any time during the period of 3 years following the date of termination of this deed in the circumstances set out in clause 12(a)(ii)(B) without first offering to enter into an agreement with either or both
Bidders on terms no less favourable to it or them (as applicable) than those proposed to be entered into with
the Third Party (China Right of First Refusal).
The China Right of First Refusal must be accepted by either or both Bidders within 20 Business Days of being notified by Sirtex in writing of the material terms of its proposed agreement with the Third Party, failing which the offer lapses.