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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.
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