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Court Of Chancery Examines "Don't Ask, Don't Waive" Clause

Posted In M&A

In re Complete Genomics Inc. Shareholder Litigation,  C.A. 7888-VCL (November 27, 2012)

This transcript has an excellent review of the case law on deal protection clauses that limit what a Board can do upon receiving a possible better offer.  The Court enjoined compliance with a "don't ask, don't waive" clause in such circumstances.

Tags: M&A