Venture Associates Corporation, a Tennessee Corporation v. Zenith Data Systems Corporation, a Delaware Corporation
Court of Appeals for the Seventh Circuit
1Opinion of the Court
CUDAHY, Circuit Judge.
For almost a year, Venture Associates Corporation (Venture) and Zenith Data Systems Corporation (Zenith) attempted to negotiate a sale of the Heath Company (Heath), a subsidiary of Zenith. Following preliminary negotiations, the parties agreed to a “letter of intent," proposed by Venture, which provided that they would continue to negotiate in good faith and that the proposed sale was “subject to the preparation and execution of a mutually satisfactory Purchase Agreement.” 1 Appellant’s Br. at A21-A22. Negotiations progressed. In October 1991, after the parties had…
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