"Bain Capital has agreed to pay $750 million should it fail to buy Virgin Australia, an unusually high break fee that helped win over the collapsed airline’s administrator. The U.S. private equity firm made the pledge “to underpin its commitment to the transaction,” it said in a statement. Administrator Deloitte agreed to sell the struggling airline to Bain in June, though the deal’s terms weren’t made public."
https://www.executivetraveller.com/n...over-bid-fails