This column takes a close look at two types of provisions—sandbagging in mergers and acquisitions transactions and cumulative versus exclusive remedies, a classic boilerplate provision.
Sandbagging
For purposes of this article, let’s focus just on cash-financed acquisitions (as opposed to buyer-stock-financed acquisitions) of privately held companies. In a cash-financed acquisition, the seller makes most of the representations in order to induce the buyer to purchase the business.
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