While in the small end of town, CXO also entered the M&A action...

While in the small end of town, CXO also entered the M&A action in providing an indicative non-binding script offer for CHR on 25 July. CHR released an announcement today that made the deal null and void upon CHR deciding the terms weren't strong enough. Is there a haggle over price emerging?



It looks like the M&A environment is heating up. If others have used clauses like this, who knows how many indicative non-binding proposals are sitting out there where the companies haven't killed that particular proposal by releasing details of the offer.