Sompo-Endurance deal has $205mn break fee

Sompo Holdings' merger agreement to buy Endurance for $6.3bn
includes a break fee of $204.9mn, according to a US Securities and
Exchange Commission filing that Endurance released yesterday.
As a percentage of the deal consideration, the break fee stands
at 3.2 percent, placing it in a typical range for Bermudian M&A
deals but some way below the circa 4.5 percent or $315mn break fee
Axis received after PartnerRe was sold to Exor.
Investors have expressed a dislike of break fees...