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Buyer blows merger extension deadline, fights $126 million breakup fee

Introduction A seller of a business may want the right to terminate a deal if a more attractive offer comes along; especially if the seller is a public company.  The buyer will often agree to this provided that the seller

Posted in extension of closing, implied covenant of good faith and fair dealing, merger, reverse termination or breakup fee, termination of M&A agreement, termination or breakup fee Tagged with: , , , , ,

Delaware court refuses to submit dispute to expert determination by accountant

Buyer and Seller executed a merger agreement on April 13, 2018. Pursuant to the merger agreement, Buyer acquired Target from its selling security holders, including Seller, a New York investment management company. Buyer paid a base price of $125 million,

Posted in alternative dispute resolution, M&A agreement Tagged with: , ,

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