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Halloum 1L Negotiation Competition Final Round
Thursday, March 20, 2025 @ 12:45 pm - 2:00 pm
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Looking for a fun lunchtime event before spring break? Join us during lunch on Thursday, March 20 at 12:45 to watch the final round of the Halloum Negotiation Competition! If you plan to attend, please stay for the entirety of the event from 12:45 – 2:00. Lunch is provided.
Counsel for FoodieLove: Olivia McCarren & Eloise Yang
Counsel for PlatFire: Vladimir Bejdo & Mitchell Lee
2025 Halloum Final Round Summary
It’s 2025 – PlatFire is negotiating the possible acquisition of a social dating platform that utilizes facial recognition software, FoodieLove.
Following the successful joint venture with Christian Coriander and the acquisition of Cooking Papa, FoodieLove is now a small public company listed on NASDAQ and Sarah Souffle is looking for new ways to take FoodieLove beyond just a dating and friendship app. After millions of users applauded Sarah for adding facial recognition into the application to make the app more secure, Sarah has begun thinking about other ways the application could be used to make the dating and friendship scene a safer place. The CEO of PlatFire, Fred Flame, happened to recognize Sarah at First Fridays and approached her, informing her that PlatFire was very interested in acquiring her application, namely for the advanced facial recognition software. At a later meeting at FoodieLove’s headquarters in Berkeley, Fred made a cash offer to acquire 100% of FoodieLove. Sarah immediately rejected the offer as she was opposed to selling her brainchild. Additionally, a recent article highlighted the possible privacy implications of PlatFire developing both surveillance systems and facial recognition software. But after 6 months of consideration and board pressure, Sarah recognizes that it may be time to move on and is now open to negotiation.
After a long meeting, Sarah and Fred have agreed on a purchase price of $550 million- $675 million. They have sent representatives from PlatFire and FoodieLove to lay out the specifics of the acquisition. Specifically, they have instructed their counsel to discuss:
- Treatment of Stock Options
- Termination Fee/ Reverse Termination Fee
- Go Shop Provision
- Non-Solicitation
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