Hotshot: Mergers & Acquisitions

No-Shops: Changing Board Recommendations and Matching Rights

12 Min View By: Hotshot July 20, 2023

Last updated on July 1, 2025.

A look at when a target board can change its recommendation for a superior proposal or an intervening event. Also includes a discussion of matching rights. Features interv…

Featured Contributors

New York, NY

Jenny Hochenberg

Jenny Hochenberg is a partner at Freshfields in New York focusing on mergers and acquisitions, corporate governance and disclosure matters and shareholder activism defense. Her clients have included Afterpay,…

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Igor Kirman

Igor Kirman is a partner in the Corporate Department at Wachtell, Lipton, Rosen & Katz, where he focuses primarily on mergers and acquisitions, activism and takeover defense, corporate governance and…

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ABA Business Law Section members.Members can access all archived Hotshot courses for free as an additional member benefit. Please log in as a BLS member or join the Section to view this course, or visit Hotshotlegal.com to watch the course on a free trial.

Featured Contributors

Jenny Hochenberg

Igor Kirman

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ABA Business Law Section members.
Members can access all archived Hotshot courses for free as an additional member benefit. Please log in as a BLS member or join the Section to view this course, or visit Hotshotlegal.com to watch the course on a free trial.