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Fly News Breaks for January 6, 2020
Jan 6, 2020 | 09:05 EDT
Evercore ISI analyst Robert Ottenstein said in a note to investors published on Friday that Molson Coors "interestingly" added a forum selection provision to its bylaws. Many companies have adopted exclusive forum bylaws in recent years and adopting such an exclusive forum provision "does not necessarily mean that a transaction is imminent," said Ottenstein in Friday's note. However, he also pointed out that outside counsel has previously suggested that it makes sense for companies that see potential M&A in the future to protect themselves with such a provision since multi-state lawsuits "have accompanied 90+% of large M&A over the last few years." Ottenstein has an Outperform rating on Molson Coors shares.
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