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Material Adverse Change Clause


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My sincere hope is sellers will value buyers with no Material Adverse Change Clauses(MACC).  Not many buyers are willing to put terms on table w/o MACC.  Mr. Buffett is notorious for large deals without MACC's.  Seeing some deals drop: Xerox/HP merger, Exor deal soured, surely there are more.  Thinking back the to Tech Data deal and wonder if they are sweating Apollo closing (pretty sure Apollo closes).  Here's to hoping BRK has the upper hand in future negotiations as purchase agreements will now be 25 pages longer with carve outs for pandemics.  Doubt the purchase agreements for BRK will see any change at all and that might be enough to get an edge on deals moving forward.  For the right seller, the memory of PE firms/Large Corps backing out of deals will be in the back of their minds and BRK's checks will always clear. 

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