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Material Adverse Effect Clauses

The M&A Lawyer

Interestingly, while M&A lawyers often get fairly animated in negotiating whether to include the word “prospects” in the MAE definition, they do not similarly struggle with inclusion of the “could reasonably be expected to have” language, which should be viewed by a court as having the same effect. 19, 2013).

M&A 130
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Indemnity Escrows

What's Market

With the exception of a dramatic bump in 2013, provisions making indemnity escrows the exclusive remedy for relevant indemnity claims have been on the decline in recent years, falling from 32% to 1% over the time periods covered by the ABA studies.

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Anatomy of an Asset Purchase Agreement

The M&A Lawyer

If you’d like to compare my discussion below with a sample Asset Purchase Agreement, here ‘s the APA that governed the 2013 acquisition by MSC Industrial Direct Co., In later posts, I’ll also examine each of the sections of an APA more closely and provide a more detailed and nuanced discussion of their contents.

M&A 130
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Shareholders vs. Stakeholders - Understanding Corporate Responsibilities

Peak Frameworks

A good illustration is the preference shares that Ford offered in 2013, which offered fixed dividends without voting rights. For example, during the acquisition of Dell by Silver Lake Partners in 2013, understanding the shareholders' interests was paramount to offering the right price and terms.

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Food Distribution is Ripe for M&A

Focus Investment Banking

Between 2013 and 2019, food distribution generated a steady flow of deals with strategics driving the majority of activity. Along with greater buyer interest in recent years, valuations have also experienced an upswing with EV/EBITDA multiples steadily increasing since 2013. Download the article here.

Food 52
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The Cooley Outlook for 2018 M&A

Cooley M&A

Approval of gross-ups in connection with a transaction typically involves a prior negotiation with the buyer. Nevertheless, as gross-up arrangements are typically negotiated after the deal price is negotiated, we do not believe that these arrangements are impacting overall stockholder consideration.

M&A 52
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What Is Hofstede's Cultural Dimensions Theory?

Peak Frameworks

Hofstede's Cultural Dimensions in the Financial Industry Applying Hofstede's dimensions can provide profound insights into risk tolerance, negotiation strategies, decision-making, and business practices within the financial industry. For a more comprehensive guide, check out our , Investment Banking Recruiting Course.