Gener8 Maritime has 39 million good reasons to see that its pending acquisition by Belgium’s Euronav gets approved in the first half of next year.
Filings show there is a $39m “breakup fee” that would be owned to Euronav by Gener8 in the event the $504m all-stock deal is not consummated by the agreed deadlines next summer.
Breakup fees or penalties are a standard feature of merger-and-acquisition activity and the sum in this deal is robust.
