Frank Aquila and Sarah Payne Co-Author Bloomberg Law Article on Top-Up Options in Tender Offers

November 2010
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Mr. Aquila and Ms. Payne co-authored the article, “Tender Offers: Recent Delaware Cases Confirm Continued Viability of Top-Up Options,” which was published in the November issue of Bloomberg Law Reports – Mergers & Acquisitions. The article examined the increasing use of top-up options in friendly tender offers and the accompanying jump in stockholder litigation targeting these structures. Mr. Aquila and Ms. Payne also explored a recent wave of Delaware cases that has provided additional clarity regarding the use of top-up options and insights into how to mitigate the risk of litigation posed by these structures.