United States:
Delaware Court Of Chancery Upholds Merger Agreement Termination Based On Failure To Deliver Formal Notice Of Extension
17 April 2019
Cahill Gordon & Reindel LLP
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On March 14, 2019, the Delaware Court of Chancery upheld the
disputed termination of a merger agreement in Vintage Rodeo
Parent LLC et al. v. Rent-A-Center Inc., holding that a
party's notice of termination that formally complied with the
agreement's requirements was effective, even though parties had
been taking steps together to move the transaction to closing,
because the counterparty had failed to give written notice
extending the termination date in the manner provided in the merger
agreement.
Attached please find the memorandum discussing the Chancery
Court's ruling.
CGR Memo - Delaware Court of Chancery Upholds
Termination of Merger Agreement Based on Failure to Deliver Formal
Notice of Extension.pdf (pdf | 354.79 KB )
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