The most striking thing about private equity acquisitions in 2007 was that they happened at all. By the middle of the year, the subprimecrisis began to look like it might take a broader toll on the economy. As credit dried up, some buyers struggled to get financing to complete transactions and some sellers expected they’d have to hold buyers to their agreements or make them pay for dumping deals. It was up to lawyers on both sides of the deals to redouble their efforts to reach the finish line.
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