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Considerations for Dual-Class Companies Contemplating M&A Transactions

Harvard Corporate Governance

4] However, such exceptions were not universal and, as will be discussed below, the vast majority of dual-class charters adopted before 2016 that contained transfer restrictions did not include M&A voting agreement carve outs. more…).

Equity 259
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CFO Corner With Thryv Holdings’ Paul Rouse

Global Finance

This involved restructuring the former company, setting up the right platform, and securing the proper capital structure. Thryv was formed in a 2017 merger between Dex Media, a Yellow Pages publisher that restructured its debt in 2016, and YP Holdings, another Yellow Pages publisher. That was really challenging.

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How to Avoid Chapter 22 in Restructuring Work for Energy Companies

Value Scope

Ultra Petroleum filed for bankruptcy back in May of 2016, so this is its second filing in four years. The cash flows we isolate are tested for their ability to support debt, the new capital structure of the restructured firm. Note that Ultra Petroleum is listed. Conclusion.

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FRP Corporate Finance secures Tradeteq sale

Accountancy Today

FRP Corporate Finance has helped support technology firm, Tradeteq, on its sale to working capital structuring and advisory firm, Silver Birch Finance. Since its launch in 2016, the business has attracted significant backing, allowing it to invest more than $40m (29.5m) in building its technology platform.

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New Pubcos Should Consider Defensive Health in Light of ISS/GL Recommendations

Cooley M&A

See our December 2016 client alert. So far in the 2017 proxy season, ISS is almost universally recommending against all director elections at companies with a supermajority vote requirement to amend the company’s bylaws or charter, a classified board structure or a multi-class capital structure. in 2015 to 7.2%

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Moonshots

Reynolds Holding

The most innovative part of the economy, the venture capital (VC) market, has evolved structures to address these agency problems. A startup’s capital structure solves the motivation problem. General Motors (GM) acquired it in 2016. Then in 2018, GM decided to experiment with a new structure.

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Triton International to be Acquired by Brookfield Infrastructure in a $13.3 Billion Take-Private Transaction

Benzinga

For our long-term shareholders, this transaction crystalizes a total shareholder return of approximately 700% since the 2016 merger of Triton and TAL International. "The sale price provides significant value to our investors and represents a 35% premium to yesterday's closing share price.