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No Shop Clauses Merger Agreements

Locke Lord LLP

Termination Fee Exclusivity Does Not Apply to No Shop Breach

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Merger agreements entered into by Delaware corporations commonly include fiduciary out provisions in order to satisfy director fiduciary duty requirements to secure the best value reasonably available to stockholders under...more

Mintz

“No Shop” Clause Radioactive for Merger’s “Failing Firm” Defense

Mintz on

Last week a Delaware federal district court unsealed its earlier opinion blocking the merger of two radioactive waste disposal companies. The court rejected the parties’ failing firm defense, citing the merger agreement’s “no...more

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