Buyouts

Sanofi-Genzyme: $125 Million in Investment Bankers’ Fees

February 20, 2011

I’ve written a little about the Sanofi-Genzyme deal.  And, recently, had a post about investment bankers’ fees.   Those posts have remarkable synergy, considering Sanofi and Genzyme are paying a whopping $125,000,000 to their bankers.

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Airgas/Air Products: The Deal Professor’s Take

February 19, 2011

This blog previously to the “Deal Professor” about the Airgas/Air Products litigation.  He’s at it again with a great post about the ramifications of the Delaware Chancery Court’s upholding Airgas’ poison pill (I’ll discuss poison pills soon, promise).   First, he analyzes Air Products’ strategy: Air Products instead focused all its effort on the legal […]

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Why is a Lawsuit Filed for Every Deal? See Below. Part II

February 18, 2011

Earlier, I posted about how lawsuits are filed for every public deal, and that evidence showed that companies that went private filed for IPOs that eventually reaped large benefits for management.  Now, if mergers are marriages, then the matchmakers are the large investment banks.  The investment banks are constantly trolling for possible deals (or in […]

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How Can a Shareholder Challenge a Merger?

February 14, 2011

Happy Valentine’s Day.  Mergers are often seen as a “marriage” between two companies.  Not to spoil today’s mood, but this post shows how shareholders question the motives behind some of those “marriages.” In an earlier post, I compared views on the abundance of shareholder lawsuits challenging mergers between the NY Times Dealbook and the Wall […]

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Why is a Lawsuit Filed for Every Deal? See below.

February 11, 2011

Recently, the Wall Street Journal published a story “First, the Merger; Then the Lawsuit” criticizing shareholder suits that are inevitably filed after a public company get acquired.   Shareholders often challenge a deal without knowing many details, and, most of the time, it is the shareholder’s attorneys who do the legwork on the case.  The […]

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Sanofi/Genzyme Close to a Deal

February 6, 2011

According to Bloomberg, the Sanofi/Genzyme deal is close.  Deals are usually announced on Monday mornings.  I wonder if we will hear something tomorrow. . .

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Airgas and Air Products Litigation Update

February 5, 2011

This blog was started well after the Airgas/Air Products deal litigation started, but since, the litigation has come to a head.  “The Deal Professor” Steven Davidoff provides a good refresher/analysis (including the parties’ briefs!) here.   If you want more information about the case, Francis Pileggi’s Delaware Corporate and Commercial Litigation Blog has excellent coverage […]

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Sanofi Upping its Bid for Genzyme?

January 15, 2011

Via the NY Times Dealbook Sanofi-Aventis (NYSE: ADR) may be raising its bid for Genzyme (GENZ) $7 per share.  This would result in a roughly $1.8 billion offer increase (outstanding shares x price).

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Hef’s Taking His Company Back

January 13, 2011

Months after his first bid to privatize the portion of Playboy Enterprises Inc. (PLA) that he doesn’t already own, and ostensibly in response to Penthouse’s parent’s higher offer, Hef upped his offer for the remaining PLA shares.  Although his offer is less than what Penthouse was offering, the Playboy Board accepted Hef’s offer.  Playboy’s announcement […]

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Duke Energy Deal

January 9, 2011

Via Michael J. De La Merced of the New York Times Dealbook: “Duke Energy is near an all-stock deal to acquire a rival, Progress Energy, that values the smaller energy company at more than $13 billion, a person briefed on the matter told DealBook on Saturday.” See the story here.

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