Dow Jones Newswires (01/22/13)
Lowe’s Cos. has increased its temporary-worker hiring plan for the spring season from last year. The retailer says it plans to hire 45,000 seasonal employees, including temporary positions like cashiers and stockers that supplement its ranks during a home-improvement demand spike in spring and summer. A year earlier, the merchant aimed for more than 40,000 seasonal hires.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
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