Publication Date: 2019-09-25
Practice Area: Mergers and Acquisitions
Industry: Distribution and Wholesale
Court: Court of Chancery
Judge: Vice Chancellor Slights
Attorneys: For plaintiff: Kenneth J. Nachbar, William M. Lafferty, and Thomas P. Will, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Richard T. Marooney, Israel Dahan, and Peter Isajiw, King & Spalding LLP, New York, NY; Jeremy M. Bylund, King & Spalding LLP, Washington, DC for plaintiff.
for defendant: Gregory P. Williams, Lisa A. Schmidt, Matthew D. Perri, and Angela Lam, Richards, Layton & Finger, P.A., Wilmington, DE; Matthew Solum and Ian Spain, Kirkland & Ellis LLP, New York, NY for defendant.
Case Number: D68712
Counterparty in merger agreement was entitled to pursue a breach of contract claim despite accepting contractual termination fee where counterparty alleged that terminating party had breached the non-solicitation provisions by inviting a superior offer from a competing bidder.