macquaire recommendation, page-12

Yes, Miksaw, this is unfortunately a fairly common practice. In CSM's case I think it is just another example of a board of directors who care little for shareholders. Not only were they prepared to sell the company cheap but would give Pallinghurst a consolation prize if the shareholders said no or a more realistic offer was made.
As an aside, RIO have a $1 billion break fee with Alcan!