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Originally posted by kray
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On a high level PPT-PDL agreement has several "out" clauses due to prescribed events, the party that incur the event has to pay the other party $23m in reimbursement fee. If one party simply pull out it is then it is subject to further unspecified liquidated damages charge to the other party. Nominally assuming zero liquidated damage it can be argued the out cost is $23m. However it is not that simple considering both parties have spent much time and effort towards the merger and scheme implementation deeds, the liquidated damages will most likely be settled in court.
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Agreed wholly.
(20min delay)