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Lessons from Carl Icahn's Failed Bid to Take Lear Private: Naked No-Vote Termination Fees Can Properly Protect Buyers from Broken Deals without Exposing Target Boards to Liability


by Hendrik F. Jordaan
Holme Roberts & Owen LLP
Denver Office

William J. Robers
Holme Roberts & Owen LLP
Colorado Springs Office

October 13, 2008

Previously published on September 25, 2008

Recent litigation (Re Lear Corporation Shareholder Litigation, No. 2728-VCS (September 2, 2008)) surrounding Carl Icahn's failed bid to take Lear Corporation private offers valuable insights into risk sharing for broken deals and fiduciary duties of boards of directors of target companies.


 

The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.


 

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