M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Thursday, September 17, 2009

Be careful out there

Cautionary tales about catastrophic typos, due diligence errors and the like help focus the senses.  Here’s one from Law Shucks:

One of the primary responsibilities of junior M&A associates in due diligence is to review material contracts for assignability and change-of-control provisions.

 

Should be simple, right?
 
Lawyers at Cravath and/or Cahill Gordon misinterpreted an assignment, and it led to a $115 million reduction in purchase price.

Read the whole thing here.

 

MAW

http://lawprofessors.typepad.com/mergers/2009/09/be-careful-out-there.html

Contracts, Deals, Lawyers, Transactions | Permalink

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