Counsel for the independent directors of a target company’s board retained Cornerstone Research and Glenn Yago of the Milken Institute in connection with a notification by an acquirer that it was terminating a proposed merger due to a material adverse change (MAC) in the target company’s business. Counsel for the independent directors of a target company’s board retained Cornerstone Research and Glenn Yago of the Milken Institute in connection with a notification by an acquirer that it was terminating a proposed merger due to a material adverse change (MAC) in the target company’s business. Dr. Yago researched changes in industry and market conditions following the company’s signing of the merger agreement to evaluate whether a MAC had occurred. As part of his assignment, Dr. Yago assessed

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