Fairfax-Allied deal has $196mn break fee

Fairfax's $4.85bn takeover of Allied World is subject to a
$196mn termination fee, according to an 8-K filing by Allied
World.
As part of the agreement, Allied World has a 30-day go-shop
period once the deal has been signed. If Allied World opts for a
superior offer, the termination fee will be lower, at $73.5mn.
The break fee is equivalent to 4 percent of the transaction
value.
Termination fees for Bermudian (re)insurance M&A
transactions have usually ranged from 3 to...