Unformatted text preview: expect to be proposed before and voted on by the legislature within the next six months, that would prohibit all Internet gambling by New York residents. It is somewhat doubtful the proposal will pass, but it would certainly be a disaster for Trump’s project if it did. Trump is also concerned about the risk that the Internet gambling law remains alive at the time the deal otherwise would have to close, though he suspects that the sellers would have a hard time accepting that condition. On the other hand, the sellers negotiated Trump into offering a nice premium and, well, Trump “drives a hard bargain”. Assignment : Groups A and B represent Royal Palm; Groups C and D represent LBO and Trump, respectively. Groups A and B prepare drafts of the conditions and termination provisions of the acquisition agreement. Groups C and D respond with a markup (Group C to respond to Group B; Group D to respond to Group A). Paired groups negotiate....
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- LBO, Palm Developments LBO