I recently submitted a new paper, Go-Shops: Market Check Magic or Mirage? for a panel entitled Selling to Private Equity at the 27th annual Ray Garrett Jr. Corporate and Securities Law Institute, hosted by the Northwestern University School of Law. The article traces the evolution of “go-shops,” discusses the alleged advantages of using a “go-shop,” and suggests that there are a number of circumstances in which a “go-shop” will not materially improve the sales process. In addition, the article includes a chart summarizing the material terms of every “go-shop” provision used in a public deal since the device first appeared.
Editor’s Note: This post is by Mark A. Morton of Potter Anderson & Corroon LLP.