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Jake Bullen Discusses MAE Clauses & the Advent/Forescout Deal with PEHub

07/16/2020

Jake Bullen has been quoted in the article “As Proving MAE Remains Huge Undertaking, Advent Snags Forescout at a Discount,” published by PEHub.

Writes Sarah Pringle:  “On the eve of what would have marked the first material adverse case litigated in the COVID-19 era, Advent International and Forescout Technologies shook hands on a revised agreement that cuts the cybersecurity company’s valuation by nearly $500 million. The settlement, just days before a trial slated to begin on July 20, underscores the fact that proving a material adverse event clause, or an MAE/MAC, remains a huge undertaking.”

“You don’t want to be litigating a MAC clause. That’s pretty much understood…. It seems to me [Advent] made an economic decision, as well as a business and legal decision, bringing down the purchase price, maybe not as much as they wanted, closing the deal, and avoiding years of uncertainty and expenses.”

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