Delaware Court Upholds Cerberus's Right To Walk Away From URI, While Tennessee Court Orders Finish Line to Complete Acquisition of Genesco
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In contrasting rulings over the holidays, the Delaware Chancery Court upheld the right of certain affiliates of Cerberus Partners, L.P. to walk away from their $4 billion buyout of United Rentals, Inc. (“URI”) by paying a $100 million reverse termination fee, while the Tennessee Chancery Court ordered Finish Line Inc. to complete its $1.5 billion acquisition of rival retailer Genesco Inc.
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