Everyone wants to go out in a blaze of glory. Whether it’s an IPO or an acquisition, your liquidity or exit event may be the most important part of your journey. Given the range of issues involved—from transaction structuring to regulatory compliance to tax planning—it may also be the most complicated. And whether your exit is the culmination of a successful career or simply the end of one chapter and the start of the next, maximizing the return on your years of hard work is an outcome you’ve earned.

We can help.

  • New HSR Thresholds Announced for 2018
    The Federal Trade Commission (“FTC”) has announced its 2018 jurisdictional and filing fee thresholds under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). These thresholds are revised each year based on the gross national product. The increased thresholds were published in the Federal Register on January 29 and will become effective 30 days later, on February 28, 2018. The new thresholds will apply to all covered transactions that will close on or after that date.
  • The Return of Stock as Currency in Acquisition Transactions
    In the public M&A market, all-cash deals have been king for the past few years even while stock prices (and thereby the value of stock as potential deal currency) have been at or near all-time highs. Recently, however, there has been a spate of transactions in which stock is used as deal currency. Part cash/part stock consideration is used in Cigna’s acquisition of Express Scripts, Lumentum’s acquisition of Oclaro, and in Salesforce.com’s acquisition of Mulesoft.
  • Perils of Imprecise M&A Disclosure
    The Delaware Supreme Court, in a recent ruling involving the $1.4 billion private equity purchase of The Fresh Market, sent a loud and clear message about the importance of fully candid, and accurately worded, disclosures in merger proxies and tender offer statements.
  • Private Equity – Are We At A Pivot Point?
    While on the surface many areas of private equity remain robust, we are a long way from the sector’s pre-crash glory days, especially as the full impact of the U.S. administration’s recent actions in deregulation, tariffs and taxes play out. Glory days aside, we continue to see transactions—one-off and otherwise—that produce striking returns for investors and sponsors. Similarly, while there was a large pullback in megadeals following the crash, there have been several multi-billion-dollar transactions of late, including club deals.
  • How Should We Deal with HR Data During the Due Diligence Process for a Share or Business Sale Under the GDPR?
    Over the last ten years, most companies have dutifully removed the names of employees before they upload the employee census to the data room or relied upon the ICO’s guidance note on Disclosure of Employee Information under TUPE to navigate the process as part of a business sale. But, we are about to enter a ‘brave new world’ where this approach is just one tip of the proverbial iceberg.
  • NYC: Municipal Benefactor to Life Sciences and Technology Venture Capital
    New York City is second only to Silicon Valley as the world’s most active setting for venture capital investment, emerging growth companies, and startup culture. New York has positioned itself as a global leader in the startup economy. The life science and technology industries, with prominent investors and companies increasingly active in the space, comprise two of New York’s most active venture ecosystems.