Cupric are intetested in doing a deal. They sign up to 30 days Due diligence and nothing eventuates. Lenders are quiet so we assume there is no breach of the loan...
CP come out a few days later and put an offer on the table subject to 90 days DD.
The lenders notify DML one day after the CO deal that they are in breach of the loan because they are talking to CP.
Someone please tell me how are the deals any different?
Why was one in breach and the other wasn't? Surely the lenders would want to see if the CP deal eventuates prior to calling in the loan?
Aren't they worse off now?
DML Price at posting:
1.9¢ Sentiment: None Disclosure: Held
