News: UWL Uniti Group Confirms It Entered Exclusive Discussions With HRL Morrison & Co., page-8

I don't hold but I am always interested in stocks in T/O territory.

Couple of questions:
1. Has anyone ever seen an example where the target has published the Deed of Exclusivity like Uniti did in this instance? I don't think I have seen that before.

2. Has anyone ever seen a scenario where the target had to commit to pay the bidder a $5m "agreed fee" if a competing offer comes in while the bidder is in DD? Of course that shows up as a "break fee" when a scheme has been agreed but why would the target need to commit to paying $5m to let a bidder have exclusivity?

I just haven't seen that before and thought it was interesting.

Any thoughts?