Sun, May 19, 2013, 6:26 AM EDT - U.S. Markets closed
According to the recent 12/12/12 Wright 425 filing, they are under no obligation to pay the $30 million break up fee should BMTI receive a very negative FDA decision before the deal closes.
"...they are under no obligation to pay the $30 million break up fee"
That's right, Wright could just ignore the devastating news and buy BMTI anyway.
In the event there is an adverse FDA event, WMGI may terminate merger agreement upon payment of $30 million fee. See Merger Agreement, Article IX, Termination, subsections 9.3 and 9.5.
The Merger Agreement is included in WMGI's Form 8-K filed 11-19-2012.