Could not find on website.
If deal does NOT go through, does Cooper pay a break up fee?
Seems to me like that should be Apollo who pays Cooper a break up fee, if deal is not made.
Cooper shareholders already voted for deal.
Cooper can agree to give union whatever necessary to make deal.
It is Apollo who could back out, if they do not like cost of union deals.
Therefore, Apollo should pay if deal not completed.
Looks like this deal is dead. from what I read if Apollo can delay until 12/31 they wont have to pay break up fee. That's why Copper wants arbitration now. Regarding other offers, anybody who's interested wont pay more than 35.00. the board already approved that deal showing they are willing to take 35. With the labor issues any other offer will probably be less, much less. who really wants a company where unions backed by a judge, can block any potential sell or merger.
guess I may have to make this a Lt hold.
Based on Apollo's press release, Apollo appears to believe that Cooper has made a material breach of the merger agreement. Would be interesting to see if the breakup fee still has to be paid if there's a material breach by Cooper.