Break fee is $4m but not payable if the IER changes its recommendation or shareholders vote the scheme down. From memory there was roughly $2.5m in sunk costs regardless of if it completes or not as well.
Absent a recur in favour of DDH, hard to see PRN getting enough support for the deal to get across the line
DDH Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
