Negotiations that led to the pending merger of Cinergy and Duke Energy involved lots of give-and-take over board seats, executive job titles and severance costs, a recent merger filing shows.
According to an eighty-page agreement on the merger filed with the Securities and Exchange Commission, the Kochs do, however, reserve the right to send an emissary to attend board meetings if Meredith fails to make good on its hefty 8.5-per-cent interest payments to the Kochs.
But the merger agreement filed by CNET on Thursday contains its own surprise.
The merger agreement filed with regulators shows that Autonomy would owe H.P. about £70.9 million, or $112 million, if the deal falls apart under certain circumstances.
Michael Galgon, the chief strategy officer, is set to make $44.6 million, according to the preliminary merger proxy filed with the Securities and Exchange Commission last week.
The merger agreement, filed with the Securities and Exchange Commission yesterday, provides for a $675 million breakup fee to be paid by whichever company walks away from the deal, should that happen.
Members of Smile Train's board who voted against the merger have filed a complaint with the New York attorney general's office, which must approve the merger before it can be completed.
In a deposition, Mr. Lewis testified that before Bank of America stockholders voted to approve the acquisition he received loss estimates relating to Merrill that were far greater than those reflected in the merger documents filed with regulators.
According to a copy of the merger agreement filed with the Securities and Exchange Commission yesterday, US Airways would have to pay $160 million to UAL if it breached the contract, while UAL would be forced to pay $50 million to US Airways if it backed out of the deal.
The company imploded after a merger and filed for bankruptcy in 1996.
