Tags, drags, ROFOs, and ROFRs raise a number of substantive and procedural issues for parties to joint acquisition arrangements.

Tag-along rights, drag-along rights, rights of first offer (ROFOs), and rights of first refusal (ROFRs) are commonly negotiated provisions in joint acquisition arrangements. These provisions are complex and raise a number of substantive and procedural issues that require careful and precise drafting to avoid surprises or disputes in the event of a sale. This Client Alert addresses some of these issues and offers possible ways to resolve them.