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Cerberus's Acquisition of DynCorp, Double Trigger Termination and Reverse Termination Fees

Book Publication Date: Aug 2021
Description: In 2010, Cerberus acquired DynCorp, a publicly held Delaware corporation. These are excerpts from the merger agreement and DynCorp’s proxy statement relate principally to the double trigger termination fee to be paid by DynCorp and the double trigger reverse termination fee to be paid by Cerberus in certain events.
Type: Contract Clauses
PLI Item #: 41250
Practice Area: Corporate law, Deal structuring, Mergers and acquisitions, Securities and other financial products, Tax, Tender offers

Keywords: Cerberus's Acquisition of DynCorp; double trigger termination; reverse termination fees; proxy statement; Cerberus's financing representation; first tier reverse termination fee; merger agreement double trigger provisions; conditions to obligation of parent and merger sub; frustration of closing conditions; superior proposal termination; Company General Breach Termination by Parent; Acquiror’s Liability Cap; contract law drafting principles

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