March 24, 2008
Mistakes Happen: JP Morgan / Bear Stearns Contract
As the WSJ Law Blog recounts, today newspapers are reporting that the JP Morgan and Bear Stearns deal is being renegotiated and, in addition to shareholder disapproval, this may be due to contract "mistakes." "Mistakes" apparently include an inadvertently included sentence. What do you expect when a 40-page merger agreement is drafted by sleep-deprived lawyers (seemingly) over a weekend?
[Meredith R. Miller]
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