I should probably know this, but are companies required to refinance their debt if they are acquired?

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Check the debt docs for change of control provisions - generally always yes often with make wholes due depending on when the debt was issued

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Depends. In most cases, yes.

They're almost always required to pay it off, not refinance (I'm sure there are cases, though)

The acquirer could always just pay it off and run the company without debt, usually they wouldn't though and just refi

Which is why the price quoted 'includes debt'

Yes, although oftentimes existing lenders may be willing to "roll" into the new deal via a new facility.

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