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Sellers Mergers Corporate Counsel

A&O Shearman

Market Check: Lessons from The Activision-Microsoft Merger

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On February 29, 2024, the Delaware Court of Chancery issued an opinion on Sjunde AP-Fonden v. Activision Blizzard1 (“Opinion”) that called into question established market practices for mergers, including (i) the process for...more

Sheppard Mullin Richter & Hampton LLP

Mergers & Acquisitions Insights: Perspectives from the Boardroom and C-Suite

Kandace Watson, Corporate M&A Partner, Sheppard Mullin, and Michael-Bryant Hicks, a seasoned EVP, General Counsel & Corporate Secretary recently discussed mergers and acquisitions perspectives from the Boardroom and C-Suite....more

McDermott Will & Emery

FTC Takes Action Limiting Overbroad M&A Non-Compete

McDermott Will & Emery on

WHAT HAPPENED - • GPM Investments (GPM) acquired 60 gas stations from Corrigan Oil (Corrigan). • As part of the acquisition agreement, Corrigan agreed not to compete for a period of time with the gas stations purchased...more

Husch Blackwell LLP

Delaware Chancery Court Decisions Outline Important Drafting Points for Earnout Terms in M&A Transactions

Husch Blackwell LLP on

Overview- Earnout provisions give sellers of a company rights to additional consideration if the acquired business achieves certain financial goals or specified milestones post-closing. Earnouts are often used to bridge...more

Sheppard Mullin Richter & Hampton LLP

Delaware Supreme Court Shines Spotlight on Boilerplate Purchase Agreement Provisions

\This December, the Delaware Supreme Court penned two decisions that shined the spotlight on purchase agreement provisions that are often afterthoughts in negotiations. In Golden Rule Financial Corporation v. Shareholder...more

White & Case LLP

Notable decisions from Delaware courts

White & Case LLP on

Williams: Court of Chancery Finds Poison Pill Unenforceable - In February, the Delaware Court of Chancery held that a shareholder rights plan (a "poison pill") adopted by The Williams Companies, Inc. at the onset of the...more

Cooley LLP

Blog: Delaware Puts the Conduct of Business Covenant on Center Stage in COVID-Related M&A Dispute

Cooley LLP on

In the months following the onset of the COVID-19 pandemic, a slew of parties filed lawsuits in US courts relating to M&A transactions that were signed prior to March 2020 and that buyers were seeking to terminate as a result...more

White & Case LLP

Ahead of the pack: US M&A 2019: Key dealmaking decisions from Delaware and New York

White & Case LLP on

We focus on two H2 2019 rulings that could affect M&A transactions in the future. Genuine Parts: Acceptance of termination fee does not prevent further remedies - In September 2019, the Delaware Chancery Court refused to...more

Amundsen Davis LLC

Preserving A Seller’s Attorney-Client Privilege Post-Closing

Amundsen Davis LLC on

As is the case in most merger transactions, both the buyer and seller retain their own counsel. Generally speaking, pre-closing communications between the buyer or seller and their counsel are subject to the attorney-client...more

Akin Gump Strauss Hauer & Feld LLP

Preserving Privilege Post-Merger

The Delaware Court of Chancery recently upheld a provision in a merger agreement that prevented the buyer from using privileged emails between the seller and its attorneys in post-closing litigation. The decision, in...more

Akin Gump Strauss Hauer & Feld LLP

Buyer’s Recourse: Delaware Court Validates Merger Termination Under Rarely Enforced Escape Clause

• In a rare move, the Delaware Court of Chancery affirmed a buyer’s contractual right to terminate a $4.75 billion merger based on a sudden and sustained decline in the seller’s business. • The decision provides guidance to...more

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