Icahn further stated that "we are filing with the Court an objection to the payment of any breakup fees
to First Data and any other bidders because it is obvious that such fees are not necessary to attract bids.
Greenblatt also announced that Capstay is sending a letter to Alliant's Board requesting on behalf of all shareholders that the Board not sign a definitive agreement with Hercules which contains breakup fees
or other benefits to Hercules that would be triggered in the event that control of the Alliant Board changes and the newly-elected Board determines that the transaction is not in the best interest of Alliant or its shareholders.
Under the merger agreement, the board of directors of Kemper may terminate the agreement under certain circumstances and accept a proposal made by another party upon payment to Conseco of breakup fees
and out-of-pocket expenses.
00 in cash net without deduction for the breakup fees
To maximize value, the new board cannot be bound by these provisions, particularly the no-shop provision that would trigger the payment of breakup fees
and severely limit the Quickturn board's ability to permit Mentor to perform due diligence to see if Quickturn is worth more than $15 per share.
sophistication to realize that breakup fees
in these situations are
sent the following letter to Dofasco's Board of Directors to voice dissatisfaction with Dofasco's acceptance of a bid with vastly increased breakup fees
for $33 per share, all cash, less any breakup fees
to be paid by Conestoga to D&E Communications, Inc.
04 per share, in the quarter which ends February 29, 2004 for term loan breakup fees
and unamortized bank fees.
00 per share in cash, less any breakup fees
that would be due to D&E Communications, Inc.
On December 17, 2001, Conestoga stated that it would not pursue Lynch Interactive's indication of interest to acquire Conestoga for $33 per share, all cash, less any breakup fees
Ohio) concluded that breakup fees
paid in connection with a failed white-knight defense to a hostile takeover are deductible.