Ann: BGH Capital withdraws non-binding acquisition proposal, page-7

I think these outcomes where a lot of management time and effort has been wasted makes the idea of imposing a fee on people proposing takeovers quite compelling.

It doesn't have to be huge... let's say, half a percent of the proposed transaction value that would be imposed in the event the deal does not go ahead. If it goes ahead, the fee does not apply.

In this case, half a percent of $1.3 billion proposal would be a $6.5 million fee for not proceeding with the proposal.

It helps ensure that prospective buyers line up all their ducks first before wasting anyones time, and that the company is compensated for any potential time wasted.