Case Study: Coughlan V. NXP

Law360, New York (December 16, 2011, 12:08 PM EST) -- In Coughlan v. NXP B.V.,[1] the Delaware Court of Chancery recently applied the step transaction doctrine in determining that a series of actions related to the formation of a joint venture "were part and parcel of the same transaction," thereby triggering provisions of a merger agreement requiring the acceleration of certain post-closing contingent payments.[2]

However, because the joint venture assumed performance obligations of one of the parties related to the contingent payments — although not the specific obligation to make the contingent payments if earned —...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.