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BSF Wins Trial Requiring Completion of $1.5 Billion Acquisition

The Wall Street Journal, December 28, 2007, at A3
Dennis Berman

The Journal reports BSF's win in Tennessee Chancery Court.  On December 27, 2007, Chancellor Ellen Hobbs Lyle ordered Finish Line and UBS to proceed with a $1.5 billion merger they had sought to repudiate in light of the credit crisis.  The Journal noted that the rarity of the relief obtained -- "[c]ourts are generally hesitant to accept so-called ‘specific performance'" -- and that "[t]he trial [was] closely watched on Wall Street, as investors and corporate boards look for guidance in how to handle a spate of litigation over scuttled merger agreements."

Related Lawyers: James P. Denvir III, Michael Brille, David R. Boyd, William C. Jackson, Jonathan M. Shaw, David L. Zifkin, , , , Jonathan D. Schiller

Related Practice: Litigation

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