Sounds good until an attorney wants to sue and then it goes to one of our ‘Uber Liberal’ courts here in California.
This was in CA. The selling company shut down the company two weeks before the sale, the buying company then entered negotiations(we all know they had finished them weeks before that)and bought the plant, then they opened it and hired whom they wanted, it had the added bonus of voided the existing Union contract and entering into new negotiations, we all took a pay cut but we kept our jobs, at least most of us did.