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Break Fee |
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Break Fee 1. A fee paid by a target company to bidders (during an acquisition) if the pending deal is terminated.
2. A fee paid by one party of a contract to another in order to terminate or cancel legal obligations. Notes: 1. Supposedly used to recoup costs and fees associated with due diligence during an acquisition. These break fees are seemingly used more and more for the purpose of restoring lost reputations arising from deals falling through.
2. Common in lease agreements, these break fees are penalties charged against parties not wishing to fulfill their portion of a contract. |
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? Mentioned in | ? References in periodicals archive | |
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| 60 a share, 10 percent above Qantas's last trade on Wednesday, was unanimously endorsed by the Qantas board after the bidders dropped a demand for a break fee and simplified other conditions. DB)(LSE: WTN) (the "Company") is pleased to report that it has settled the break fee issue with NEMI Northern Energy & Mining Inc. The agreement also provides a mechanism whereby the break fee issue arising from the previously proposed combination of WCCC and NEMI will be resolved quickly by reference to an independent expert rather than the courts. |
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Break Fee
