$ 5 mil.
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?
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.
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.
No brainer-the shareholder vote! I would vote to do it at 191M too. Especially after what has happened in the market since. The regulatory agency has a longer DD since the meltdown.