wescobrk Posted April 22, 2020 Share Posted April 22, 2020 Any risk arbs have a good background in "ordinary course covenant?" If so, do you think the L Brands deal will go through? The shares dropped more than 20% today. PE firm buying it is arguing L Brands violated that clause when it closed stores due to Covid. L Brands is arguing its behavior is consistent with other businesses due to the pandemic. Link to comment Share on other sites More sharing options...
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