Probably not a done deal, but there is a break penalty. From the...

Probably not a done deal, but there is a break penalty. From the PJO press release:

"Under the terms of the Transaction, Bolnisi, Palmarejo and Coeur have agreed to give each other exclusivity, subject to certain exceptions and have agreed to a reciprocal break fee of 1% payable in certain circumstances."

I would have thought a takeover premium of 35% or more would have been in the offing, i.e. a takeover price for BSG of $4 plus. Also, I recall seeing broker research giving a price target of $4.50 for BSG once in production. The Coeur offer of effectively $3.35 definitely seems low-ball.