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Delaware Chancery Court has handed a win to the seller in a $550 million dispute over an agreement to acquire a cake decoration supplier in the early days of the pandemic, saying a dip in sales did not give the buyer reason to renege.
In one of her last rulings as a Vice Chancellor, incoming Chancellor Kathaleen McCormick on Friday ordered private equity firm Kohlberg & Company to close on its March 2020 acquisition of Decopac Holdings from another private equity firm Snow Phipps Group, represented by Quinn Emanuel Urquhart & Sullivan, calling the ruling “a victory for deal certainty.”
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