Operating in the Ordinary Course of Business after an Extraordinary Event: Cooper Tire & Rubber v. Apollo (Mauritius) Holdings

November 19, 2014

Recently, in Cooper Tire v. Apollo (Mauritius) Holdings, the Delaware Court of Chancery considered the issue of what it means to operate in the ordinary course of business under a merger agreement in the face of an extraordinary event and how a merger agreement’s ordinary course covenant interacts with the condition that no “Material Adverse Effect” occur prior to the closing.