“As hospital prices cool and consolidators get cold feet, owners can protect themselves by negotiating a breakup fee.”
In the latest Today’s Veterinary Business December/January issue, National Veterinary Law Group Chair, Peter Tanella, Esq. and Associate Eileen Funnell, Esq. discuss how as the consolidation landscape shifts, breakup fees will remain critical in protecting practice owners from unnecessary risk during a sale. Having a breakup fee in an LOI provides some assurance that sellers won’t be stuck with all the out-of-pocket expenses incurred in trusting that buyers will follow through on promised deals.