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MIDDLEBY CORP. v. HUSSMANN CORP.

No. 91-2785.

962 F.2d 614 (1992)

The MIDDLEBY CORPORATION, et al., Plaintiffs-Appellees, v. HUSSMANN CORPORATION, Defendant-Appellant.

United States Court of Appeals, Seventh Circuit.

Decided April 29, 1992.

Attorney(s) appearing for the Case

David E. Springer, Susan Getzendanner, Andrew J. McGuinness (argued), Skadden, Arps, Slate, Meagher & Flom, Chicago, Ill., for plaintiffs-appellees.

John P. Scotellaro (argued), John W. Rotunno, Peter G. Rush, Bell, Boyd & Lloyd, Chicago, Ill., for defendant-appellant.

Before EASTERBROOK and RIPPLE, Circuit Judges, and WOOD, Jr., Senior Circuit Judge.

EASTERBROOK, Circuit Judge.

Hussmann Corporation sold its Foodservice Equipment Group to Middleby Marshall Inc. in 1989 for $62.5 million. Like most transactions for the sale of an ongoing business, this one included rules for adjusting the price to reflect changes in the value of the assets between the date of agreement and the date of closing. The parties agreed that they would submit any dispute about changes in valuation to an arbitrator, whose decision would...

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