Australia Acquisition, Harbinger Abandon $350M Deal

Law360, New York (November 15, 2012, 7:23 PM EST) -- Australia Acquisition Corp. and Harbinger Capital Partners LLC on Thursday said they had mutually called off a deal to have AAC buy $350 million worth of assets, including a resort development company and an iron ore producer, from HCP.

The companies said in a joint statement that certain conditions to closing the transaction weren't satisfied by the Nov. 15 deadline and that extending the expiration date would not be in the best interests of either party. The deal would have united the two companies into a...
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