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Material Adverse Effect clauses (or “MAEs”) are customary in M&A transactions. When the COVID-19 pandemic put the applicability of these provisions under the microscope, courts and industry leaders were called upon to interpret how and when such clauses can be relied on. With the pandemic behind us, helpful guidance and interpretation on the operability of MAE clauses in the M&A landscape remain. In this episode, Blair McCreadie speaks with Corporate M&A partners Alex Farcas and Tom Redekopp alongside Litigation partner Chloe Snider about the lessons we have learned about MAE clauses from the pandemic and key considerations for M&A transactions moving forward.