Interesting3 Feb 2018 01:58
from last Monday's RNS regarding Aphria's offer for Nuuvera:
"The arrangement agreement between Nuuvera and Aphria provides for, among other things, a non-solicitation covenant on the part of Nuuvera, as well as a provision that entitles Nuuvera to consider a superior proposal in certain circumstances, and a right in favour of Aphria to match any superior proposal. Nuuvera is not permitted to terminate the arrangement agreement as a result of a superior proposal. If the arrangement agreement is terminated in certain circumstances, including if Nuuvera enters into a definitive agreement with respect to a superior proposal, Aphria is entitled to a break-fee payment of $25 million. The Transaction is currently expected to close in April 2018."
So, although Nuuvera cannot solicit better offers, they may 'consider' them and Aphria may match them, all between now and April. Anyone care to speculate whether any such proposals might be made to NUU in the next two months?