Use 'Don't Ask, Don't Waive' Provisions With Care

Law360, New York (August 8, 2013, 5:55 PM EDT) -- The Delaware Chancery Court recently issued two bench rulings and a memorandum opinion addressing “don’t ask, don’t waive” standstill provisions commonly included in confidentiality agreements in connection with an auction sale of a public target company. Following these rulings, target boards and their advisers should be well-informed about such provisions and their impact on the auction sale process.

“Don’t Ask, Don’t Waive” Standstill Provisions

Protecting confidential information is of particular importance in an auction sale process due to the number of bidders involved and the inherent...
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