Chinese Company Refuses to Pay Break-up Fee if Clal Insurance Sale Collapses

Microlink, the only remaining bidder to buy control of Clal Insurance, has rejected a demand by seller IDB Development Corporation to pay the fee.

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China’s Microlink, the only remaining bidder to buy control of Clal Insurance, has rejected a demand by seller IDB Development Corporation to pay a break-up fee if the prospective sale collapses.