Thanks for the note on a bought deal being a bought deal. On the one hand, the name of the contract implies that. On the other hand, no contract is bulletproof.

You probably know about "gazumping" in the UK - you buy a property, exchange contracts, and if a better offer comes along, you don't have a deal anymore.

Sony bought Paramount years ago. The lawyers dollied up 8500 pages of contract for the chairman to sign. Sony's President said "I've reduced it to one page instead." What he signed was "I, Sony President, buy Paramount for xxx. I reserve the right to change any contract terms at any time in the future."

With today's market prices (I was busy and missed at buying the low!) the deal looks pretty solid anyways.

That said, coach mentioned a bought deal that didn't complete - but were the contract terms different? Was is really truly a "bought deal"?

I really like the now the exact, precise bottom line on bought deals. Either on the very outside chance they can change, or on a very outside chance they cannot change.

Knowing the very fine details has saved my bacon quite a few times.

Is there any expert in this area?