Thanks for that post, Quarterdeck.....I think a few may have forgotten that, since it was first posted,,,,,through other false distractions,,,,LOL......Going to be great to see the launch of JV with Rock Tenn real soon....!!!!
Prior to entering any Purchase and Sale contract SS would need to and be legally obligated to disclose all material agreements CURRENTLY in place. Rock Tenn by signing the purchase and sale agreement is therefore agreeing to honor all the disclosed said agreements.
Like I said earlier, the problem lies when after signing said Purchase and Sale agreement, the company being acquired signs other agreements that are not, or were not disclosed or approved by Rock Tenn after signing the P&S. Therefore, as I said earlier Rock Tenn would have a clause in place, as this is not their first dance - speaking directly to no ambush agreements that would survive the acquisition...period
12) Will my current contract be assumed and honored by RockTenn?
Current contracts with Smurfit-Stone will be assumed in connection with acquisition. You will be contacted directly should there be any legal implications associated with the deal closing. We will honor any required contract notifications and will also process change-of-control agreement requirements accordingly.
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