Deals
Exiting Billion-Dollar Deals Over Coronavirus Spurs Big Court Fights
- Buyers seeking way out of contracts after asset values plunge
- Delaware courts loading up on busted deals with more on way
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A deal is a deal, except for a growing number of companies that agreed to buy assets before the Covid-19 pandemic sent markets plunging.
Panicked executives already have launched a handful of legal battles that could blow up billions of dollars’ worth of merger and acquisition agreements. And litigators predict at least a dozen more limping deals will crash land in courts over the next few months, while many others will be quietly renegotiated.