Latest / The Acquisition Talk with Fexingo: Mergers, Buyouts, and Business Sales for Operators
How a WARN Act Clause Torpedoed a $2 Billion Deal
When a private equity firm agreed to buy a 4,200-employee manufacturer, the seller's last-minute request to shift WARN Act liability into the purchase agreement killed the deal. This episode drills into the Worker Adjustment and Retraining Notification Act — a 1988 law that rarely surfaces in due diligence until deal attorneys realize a plant closure within 60 days of closing triggers up to 60 days of back pay and benefits for every affected worker. Lucas walks through the specific deal: a $2.1 billion offer for Midwest Precision Parts, signed and ready, until the buyer's attorneys…
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