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Friday, 31 October 2014

MACs no panacea for buyers looking to escape deals

Buyers' remorse

KKR wants out of Harman. Finish Line is spurning Genesco. Both claim material adverse changes get them off the hook. But MACs rarely work. If they fail, suitors have to pay break fees and could face shareholder lawsuits. Acquirers may have a lot to lose.



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