Lifull can opt out with a termination payment of a couple...

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.