M&A Foundations · glossary

MAC / MAE

Material adverse change / material adverse effect. A MAC condition would let a buyer refuse to complete if something seriously bad happens to the target between signing and completion. English courts construe them narrowly, sellers resist them fiercely, and many English private deals — Sunrise included — have none. Chapter 13

Explained in Chapter 13, Signing to Completion, of M&A Foundations.

Every chapter of M&A Foundations is free to read, including the full training share purchase agreement.

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