Well, I guess we'll find out in a few years...
Due to the confidentiality of SIAC proceedings, I doubt we will even get to read the filed briefs. We may get the headline number being claimed if either SIMO or MXL deem it material to disclose to shareholders. Which I think it is, naturally, but the ways of public companies' corporate departments work in mysterious ways.
Obviously, SIMO will claim everything reasonable and unreasonable to possibly claim, so they will no doubt demand the shareholder expectation damages, the termination fee ($160 million), lost synergies ($100 million?), legal expenses in pursuit of the merger, legal expenses in pursuit of the arbitration, reputational damages and customer uncertainty (?), and whatever else their lawyers can think of.
But with this termination by SIMO, specific performance is definitely off the table. Which is why SIMO is down and MXL is up on this news. However, they can now go back to issuing dividends, buybacks, soliciting other buyers, and the other sundry things that the agreement constrained them from. |
