Being a new poster to the Edig forum I will try not to ruffle feathers right away - but I have a real problem with what you are implying/stating here.

I am somewhat familiar with the negotiations/representations/DD associated with a buyout having just been involved in one over the last 2 months. The negotiations concerning this transaction started about 2 years ago. I`ve been involved in buyouts previous to this also.

The contingency terms your are describing are typically called an ``earn out``. The company being bought needs to reach certain plateaus of performance in the future to determine what the buyout price actually becomes.

However, what you are stating is basically that Wencor did not have a firm grip on what exactly they were buying in APS. They didn`t read the contracts between APS/Edig to see who owned what? The representations made by Boyer to Wencor would have been investigated thoroughly before Wencor signed off on the deal, not just left to covering their butts thru contingency clauses and indemnification agreements.

I find your description of these events and the current standing very implausible.