Transactional Delights

NOVEMBER 24, 2020

Following the November 2019 signing, covid hit and LVMH announced that it would not be able to close the deal by the agreement’s drop-dead date of November 24, 2020 [2] after the French Government sent a letter [3] to LVMH directing it to pause the deal until 2021. In this case, the leak worked in TIF’s favor.

M&A 40

M&A Mergers and Acquisitions IT Shares 40

Cooley M&A

JULY 9, 2021

In a string of seminal decisions from 2017 through 2019 ( DFC Global , Dell and Aruba ), the Delaware Supreme Court re-shaped appraisal jurisprudence, in each case by overturning the Court of Chancery for failing to give adequate weight to deal price as the most reliable indicator of fair value. took private in 2017 for $315/share.

Mergers and Acquisitions 52

Mergers and Acquisitions Sale Shares Entertainment 52

Cooley M&A

OCTOBER 29, 2020

Unlike prior iterations of SPAC activity and perhaps unsurprising given the increasing number of SPAC IPOs, the panelists noted that companies considering going public by way of a SPAC are often negotiating with multiple SPAC sponsors in the preliminary phase of a potential transaction. Revisiting Governance Documentation.

M&A 52

M&A IPO Valuation Mergers and Acquisitions 52

Cooley M&A

SEPTEMBER 16, 2022

In addition, currently public dual-class companies with transfer provisions that do not contain clear carve outs for the delivery of voting agreements in the M&A context should discuss with their advisers the possibility of adopting “clear day” amendments to their charters to include these carve outs. Vote-down termination fee (i.e.,

M&A 59

M&A IPO Shares Mergers and Acquisitions 59

Cooley M&A

JANUARY 20, 2022

on transactions over 2019’s mega?mergers. A healthy 90 biopharma M&A transactions were announced in 2021 (compared to 69 in 2020 and 70 in 2019, the most transactions since 2016). But deal value – which totaled $108 billion as of December 15, 2021 – was slightly down from 2020 and significantly down from 2019.

M&A 40

M&A Mergers and Acquisitions Pharmaceutical Mergers 40