M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Wednesday, February 20, 2013

Office SNAFU

Fictional Partner to senior associate:  Geez, this merger agreement is just taking longer to get done than we had expected.  There are a pile of issues we have yet to deal with.  I think the timing is going to slip.  

Senior associate: So we won't be announcing it before our earnings release?  I think we had teed things up to the deal to be announced before hand.

Partner:  No, not going to happen.  Hey, thanks for reminding me.  Remember to get that earnings release on file and make sure to revise it!

Senior associate: Done.

...

(next day)

Senior associate to junior:  Get that earnings release on file pronto.

Junior: Done.

...

(15 minutes later)

Senior to junior:  Hey, that earnings release I asked you to get on file.  Which version did you use? Did you use the version that announced the deal, or the other one?

Junior: Uh...version?  

Senior:  Uh oh. Can we pull that filing?!

...

Too late!  Me and about a million other people already pulled it!  For your viewing pleasure, here's the offending paragraph from Office Depot's 8-K that got everyone moving into overdrive this morning:

OfficeDepot-8K

I guess they'll file the merger agreement when they get it done.

-bjmq

 

February 20, 2013 in Mergers | Permalink | Comments (1) | TrackBack (0)