The Board’s rejection is based on shaky grounds and may be an attempt to negotiate better terms, such as a bump, ticking fees, or significant break fees. At the last close, the gross spread was 21.8%.
What is covered in the Full Insight:
Background and Dynamics
Austal's Response to Hanwha's Proposal
Board's Rejection and Negotiation Tactics
Potential for Other Bidders
Assessment of Hanwha's Offer
SUMMARY
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