Distressed M&A: Buying and Selling Businesses Facing Financial Trouble
Strategies for Structuring Winning Deals
Recording of a 90-minute CLE teleconference with Q&A
Conducted on Wednesday, November 12, 2008
Recorded event now available
Description
As the volatility in the credit markets and economic downturn forces more companies into financial crisis, savvy buyers are identifying new opportunities to purchase businesses at bargain prices while troubled companies are seeking ways to ease the pain of looming failure.
However, the new investment opportunities present a myriad of legal and financial considerations for buyers and for troubled businesses. Acquiring a distressed business typically involves a compressed transaction with competing interests among stakeholders.
It is critical that counsel for the buyer and seller act strategically to negotiate a deal that maximizes the value to their clients’ respective benefits.
Listen as our panel of attorneys — both M&A and insolvency — discusses new opportunities in distressed M&A and offers best practices for buyers and troubled businesses for structuring the deal.
Outline
- Overview - impact of economic forces on M&A
- Opportunities for buyers and sellers in distressed M&A
- Purchasing from non-bankrupt companies
- Restructuring options available
- Section 363 sales process
- Best practices for structuring the distressed M&A deal (from the buyer’s and seller’s perspective)
- Cash deposits
- Representations and warranties
- Bid protections and procedures
- MAC clauses
- Closing conditions
Benefits
The panel will review these and other key questions:
- What are the key factors driving the increase in distressed M&A deals?
- What are some of the potential legal pitfalls in negotiating distressed M&A deals?
- What are the best practices for counsel on both sides of the deal to tailor terms in distressed transactions?
Faculty
Michael E. Foreman,
Partner
Dorsey & Whitney, New York
He represents secured and unsecured lenders and creditors, acquirers of and investors in distressed assets, and reorganizing and financially distressed companies in Chapter 11 restructurings.
Joseph T. Kinning,
Partner
Fulbright & Jaworski, Minneapolis
He has counseled corporate clients through complex mergers and acquisitions, restructurings and other business transactions for more than 20 years.
Stephen Spencer,
Director
Houlihan Lokey, Minneapolis
He advises clients on mergers and acquisitions, special situations financing, financial restructuring and other corporate finance transactions. He also heads the office’s Distressed M&A Practice.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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Online CLE Audio $149.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
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Available ten business days after the live event
CLE Credit
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Customer Reviews
Speakers were knowledgeable enough to talk about the subject matter in an easily digestible manner.
Daniel M. Cleary
Gotham Insurance/New York Marine & General Insurance
The program was very thorough, stayed on topic and was well organized.
Thad Wilson
King & Spalding LLP
The speakers had excellent slides which made their points clear. Also, they talked about their experiences with clients, not just the theory, but the actual practice.
Dianne Pallmerine
The real case examples and case citations were very helpful.
Tyler Wilkinson
Axley Brynelson, LLP
There was a lot of information available on the slides, so it was easy to take notes and have a thorough take-away resource.
Harriet Bildsten
St. Jude Medical
Finance Law Advisory Board
Partner
Gibson Dunn & Crutcher
Partner
Nixon Peabody
Partner
Alston & Bird
Counsel
Mayer Brown
Partner
O’Melveny & Myers
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