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The merger contract dictates that G.E. make its "best efforts" to complete the deal.
He was even more disturbed by a clause in the merger contract requiring either party to pay the other $262 million as a break-up penalty.
An executive close to Honeywell said the company was reluctant to withdraw the application because it would undermine the possibility that Honeywell could sue G.E for breach of their merger contract.
The terms of the merger contract are usually kept deliberately vague, because companies do not want to spell out in an agreement precisely what they are willing to do to satisfy regulators.
Instead, the company, based in Greenwich, Conn., said that it would terminate the deal and ask Cerberus to pay the $100 million breakup fee stipulated in the merger contract.
A week ago, Sallie Mae sued the buying group, insisting that their merger contract specifically contemplated the legislation and that changes in the credit environment do not annul the agreement.
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The legions of transaction lawyers who worked late before the crisis drawing up merger contracts are home to tuck the children into bed.
For example, L.I.J.'s pre-merger contract with Aetna included reimbursement rates substantially below those Aetna had negotiated with North Shore.
Microsoft is the latest target of antitrust laws designed to prohibit companies from conspiring by way of mergers, contracts or other forms of cooperation to reduce consumer choice.
Each of these pairwise mergers contracts edges on which the two trees either disagree or which have "collisions".
On top of those obligations, the firm, in order to retain essential talent at the time of the merger, gave contracts to dozens of its partners.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com