PJ Solomon CEO Sees M&A ‘Closed Down’ With Lawsuits Resulting

PJ Solomon Chief Executive Officer Marc Cooper said he sees mergers and acquisitions falling apart amid the financial tumult caused by the coronavirus pandemic, and that lawsuits will rise as buyers try to get out of existing deals.

“Most transactions that are not in contract are either going to be renegotiated or shelved,” Cooper said Wednesday in a Bloomberg Television interview, adding that firmer deals that are canceled will probably result in litigation. “There are very few contracts that actually have provisions that give you outs for a pandemic.”

Some deals have already died. Xerox Holdings Corp. ended a hostile ...