Lifull can opt out with a termination payment of a couple million – nothing significant to either party.
However they are very unlikely to for a number of reasons:
- The bid is largely a scrip bid made at a time when Lifull’s share price was significantly higher, it has since dropped circa 40%. So in essence, they are getting a 40% discount on their purchase price of Mitula.
- There are genuine synergies in the acquisition for Lifull and it’d make them the no.1 aggregator in their space.
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