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Supreme Court Explains Its "Business Combination" Ruling

Posted In M&A

Activision Blizzard Inc. v. Hayes, C.A. 497, 2013 (November 15, 2013)

What constitutes a "business combination" is an important question because that phrase is found in statutes and stockholder agreements that restrict certain corporate actions.  Here, the Supreme Court makes it clear that a divestiture is not a "combination" and that the phrase needs to be interpreted in the context it is used.

Tags: M&A