What result bethlehem then sued little co

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Question: After extensive negotiations Little Co. agreed to construct a newly designed ore vessel for Bethlehem Steel Co. at a fixed price. Thereafter, the parties agreed in writing that Bethlehem should have an optionto require LittleCo. to construct up to five additional ore vessels for the same design at a stated base priceof $20,400,000 per vessel. If Bethlehem exercised an option, the base price was subject to escalation on terms to be agreed by the parties.Despite Little Co. requests, Bethlehem refused to exercise the optionor to negotiate the option price. After Little Co. closed its strip yard, Bethlehem sought to exercise the option for three additional vessels. Both parties negotiated over the escalated price, but despite apparent good faith efforts were unable to agree. Bethlehem then sued Little Co. for $95,000,000 in damages. What result? Fully support your answer.

Reference no: EM133233076

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