'Intervening Event' Carveouts Risk Muzzling Boards
That may be the wireless company’s best chance to wriggle out of a merger agreement that severely limits its ability to change its recommendation to shareholders.
Leap can terminate the $1.2 billion deal in the case of an “intervening event,” usually defined as a favorable change that was unforeseeable when the deal was signed. These clauses have appeared in about 30...
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