May 07, 2021

M&A Watch: Just Deserts…Delaware Court of Chancery Orders Closing of Cake Supplier Acquisition

订阅

Jump to...

 

M&A WATCH: JUST DESERTS…DELAWARE COURT OF CHANCERY ORDERS CLOSING OF CAKE SUPPLIER ACQUISITION

On April 30, 2021, then-Vice Chancellor Kathaleen McCormick of the Delaware Court of Chancery struck a “victory for deal certainty” in Snow Phipps Group, LLC v. KCake Acquisition, Inc. (Del. Ch. April 30, 2021), in ordering specific performance to compel the investment funds of Kohlberg & Company, LLC (the “buyers”) to close the $550 million acquisition of DecoPac Holdings Inc. (“DecoPac”), a supplier and marketer of cake decorating products, upon finding that the buyers breached their obligation to use reasonable best efforts in connection with the debt financing for the acquisition.

Read the full memo, “Just Deserts…Delaware Court of Chancery Orders Closing of Cake Supplier Acquisition.”

Authors and Contributors

George Casey

合伙人

并购

+1 212 848 8787

+1 212 848 8787

纽约

Scott Petepiece

合伙人

并购

+1 212 848 8576

+1 212 848 8576

纽约

Alan S. Goudiss

合伙人

诉讼

+1 212 848 4906

+1 212 848 4906

纽约

Lona Nallengara

合伙人

资本市场

+1 212 848 8414

+1 212 848 8414

纽约

K. Mallory Brennan

合伙人

诉讼

+1 713 354 4847

+1 713 354 4847

+1 212 848 7657

+1 212 848 7657

休斯顿

Derrick Lott

合伙人

并购

+1 212 848 7421

+1 212 848 7421

纽约

Roger Morscheiser

合伙人

并购

+1 212 848 7422

+1 212 848 7422

纽约

Cody L. Wright

合伙人

并购

+1 212 848 4152

+1 212 848 4152

纽约