The Delaware Court of Chancery, in Cigna Health and Life Insurance Co. v. Audax Health Solutions, Inc., et al., C.A. No. 9405-VCP, opinion (Del. Ch. Nov. 26, 2014), found that a contractual obligation included in a Letter of Transmittal, execution of which a Merger Agreement made a condition of receipt of merger consideration following the merger, was unenforceable. discusses a recent report by by SRS Acquiom and Bloomberg Law — Deal Term Trends to Watch in the 2020s — which discusses how practices have changed following the decision in Letters of Transmittal: What Do They Look Like 5 Years After Cigna v. Audax?.