13 Jul 2021
Make ’em Eat Cake: Delaware Chancery Court Finds Pandemic Was Not an MAE
In Snow Phipps v. KCAKE Acquisition, the Delaware Court of Chancery ordered the buyer (private equity firm Kohlberg) to close on its $550 million agreement to purchase DecoPac, a cake decorations supplier, rejecting, inter alia, the buyer’s claim that the COVID-19 pandemic resulted in a material adverse effect. Check out this article discussing this much anticipated post-trial decision.
Related Content
- Material Adverse Change Definitions
Familiarize yourself with key considerations related to the highly-negotiated term “material adverse effect” or “material adverse change.”
- M&A Amid the Coronavirus (COVID-19) Crisis: A Checklist
Prepare for MAE/MAC drafting and negotiation with this checklist.
- How COVID-19 Has Reshaped M&A Agreements
Learn about the impact of the COVID-19 pandemic on key M&A provisions, including MAE/MAC clauses, in this article.
Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.
- The Practical Guidance Journal Summer 2021 Edition
- Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.
Experience results today with practical guidance, legal research, and data-driven insights—all in one place.
Experience Lexis+