Under the Agreement, Rosehearty will receive a break fee
of 150,000 Common Shares of Hemp Hydrate.
Venator is now calling for the $75m break fee
to be paid.
Venator and Tronox also agreed in the July 14, 2018 agreement that Tronox will promptly pay Venator a break fee
of USD 75m upon consummation of the Tronox/Cristal merger once the sale of the European paper laminates business to Venator has been consummated if the sale of the Ashtabula complex to Venator has not been completed.
According to the Memorandum of Understanding with Venator, both firms agreed that a USD75m break fee
would become payable if, among other things, the parties, despite negotiating in good-faith and in conformity with the terms in the Memorandum of Understanding, failed to reach a definitive agreement for the sale of Cristal's North American operations and Tronox was able to consummate both the Cristal transaction and the 8120 paper-laminate product grade transaction.
Venator and Tronox also agreed in the July 14 agreement that Tronox will promptly pay Venator a "break fee
" of $75M upon consummation of the Tronox/Cristal merger if the sale of the European paper laminates business to Venator has been consummated but the sale of the Ashtabula complex to Venator has not been completed.
The full financial terms of Virgin Money's contract with 10x have not been disclosed and it is unclear what a potential break fee
might cost the combined group.
Of note, however, is that break options may attract a break fee
payable by the party exercising the break.
Innogy will also receive a break fee
of PS60million if SSE's shareholders fail to approve the deal by July 31 next year.
A group of lawyers representing Brazilian Neymar visited La Liga in Madrid on Thursday to try to settle the transfer and pay the 222 million euro break fee
Bayer also announced that it had set aside $1.5 billion in contingency funding to pay a "reverse anti-trust break fee
" that could come due if US antitrust authorities do not fully approve a Bayer-Monsanto merger.
One of the more eye-watering figures in the business press lately was the $3.5 billion break fee
payable by Halliburton to Baker Hughes as a result of its failed acquisition of the oil and gas services giant.