Hidden Trap for Large Investors under the Tennessee Business Combination Act

The Tennessee Legislature enacted the Tennessee Business Combination Act in the late 1980's in response to a trend of hostile takeovers of public companies. Its restrictions, once tripped, cannot be waived — even at the request of the investor, board, and shareholders of the subject company.

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Published In: Business Organization Updates, General Business Updates, Mergers & Acquisitions Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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