The buyer signs a nonbinding letter of intent to acquire a business. The deal never closes. A Texas intermediate appellate court finds that a prospective buyer owed the seller no duty of good faith and fair dealing. M&A Stories October…
The buyer signs a nonbinding letter of intent to acquire a business. The deal never closes. A Texas intermediate appellate court finds that a prospective buyer owed the seller no duty of good faith and fair dealing. M&A Stories October…
Read about a recent court case involving LOI revisions in an M&A deal where the buyer was found not to be bound by the seller’s additional terms. Learn the importance of clarity in LOIs and avoiding disputes in business transactions.…
Explore the legal complexities surrounding a buyer’s ability to approach seller’s employees despite a Letter of Intent (LOI) in business acquisitions. Understand the case of American Mortgage & Equity Consultants, Inc. v. Everett Financial, Inc. and key factors affecting the…
In 2010, Seller was an integrated design and manufacturing company specializing in the development, production, installation, repair, and servicing of heavy equipment for use by offshore energy companies in the Gulf Coast region. Seller was founded in 2002 and employed…
Buyer, headquartered in Cleveland, Ohio, and Seller, headquartered in Covington, La., are scrap metal recycling companies with substantial operations in Nashville, Tennessee. On December 9, 2015, they entered into a Confidentiality and Non-Disclosure Agreement (“NDA”) as part of discussions regarding…
This is story about how a company negotiating the sale of its business (the “seller”) ended up in court with the company interested in buying the business (the “buyer), over a provision in a letter of intent. In the words…
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