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If Fording now accepts a bid from a third company, it must pay Teck $400 million.
Prospective buyers do research and get inspections; there are offers and counteroffers until the seller accepts a bid.
Dynegy shares fell 2.7 percent on Tuesday, closing at $5. If Dynegy accepts a bid greater than $4.50 a share during the next 18 months, the company will be obligated to pay Blackstone a $16.3 million breakup fee.
Not surprising since it's all free until a shipper accepts a bid; then up to 3% of the cost is paid by carriers to GoCargo.
Similar(52)
The Addicks' League One rivals began talks with Francis after Charlton accepted a bid just over a week ago.
"It's just over a week ago that Sheffield United accepted a bid for David, so obviously we're pleased to have concluded the deal.
In the end, Mr. Siebert accepted a bid for $465,500.
The open house went smashingly, and I end up accepting a bid slightly above asking price.
As a member of the Southeastern Conference, the university accepted a bid for the Outback Bowl.
Pure Resources executives accepted a bid of 0.74 Unocal share for each of theirs, the companies said.
After accepting a bid of $4.5 million, the "emotionally involved" sellers asked to meet the buyers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com