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Material Adverse Clauses: Practice in an Uncertain World
April 14, 2006 Full PDF
Partner Carl Reisner and associates Gary Pagano and Joseph Rose's article, "Material Adverse Clauses: Practice in an Uncertain World," appeared in the April issue of M&A Lawyer. The article discusses how Material Adverse Effect (MAE) clauses are used in merger and acquisition agreements and how courts have enforced MAE clauses in acquisitions of publicly traded targets by strategic buyers. The article also covers how practitioners have responded to the case law in private M&A transactions by financial buyers.