4 Key Issues In Rent-A-Center Case And A $127M Question

By Paul Shim, David Gelfand and Mark McDonald (March 19, 2019, 5:09 PM EDT) -- Last week, in Vintage Rodeo Parent LLC v. Rent-A-Center Inc., the Delaware Court of Chancery found that a target company in an agreed merger properly terminated the merger agreement following the passage of the specified "end date" where the buyer failed to exercise its right under the agreement to extend the end date.[1] The decision is a stark reminder that courts will enforce the terms of a merger agreement as written, and that the failure to comply with seemingly ministerial formalities can have severe consequences....

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