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Educate me, please.It looks to me as if WBCO is the one to have cancelled the merger. Why, then, should FTBK be obligated to pay that horrendous termination fee?
I agree with you. WBCO pulled the trigger to kill the deal, not FTBK.However, who knows exactly what the contract says.I suspect it will be a net of Zero at the end of the day.
WBCO blames FTBK for failing to secure Regulatory Approval. That is beyond FTBK's direct control.FTBK can blame WBCO for cancelling the deal.Both parties can pay each other $5 Million, or the option of paying each other ZERO.