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The Quality of Earnings Information in Dual-Class Firms

Harvard Corporate Governance

When Google went public with a dual-class capital structure in which shares owned by the founders confer greater voting rights than shares issued to public investors, its cofounders, Larry Page and Sergey Brin, sent shareholders a letter promising to provide them with high-quality information about the company.

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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. Now, were at another pivotal point, transitioning fully from a Yellow Pages marketing business to a software company. Rouse: Ensuring that we have the right capital structure to complete this transition.

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How to Avoid Chapter 22 in Restructuring Work for Energy Companies

Value Scope

The challenges and complexities of energy markets make reorganization plans hard to properly formulate. The challenge for counsel and financial advisors has to with the often-severe price volatility common to oil and gas markets. It came out of Chapter 11 in 2017 with nearly $3 billion in new debt. Simulation Models.

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Del. Supreme Ct. Arguments Go Over Operative Reality, Expert Credibility, and Standard of Review

Appraisal Rights

Some key questions asked and argued were: Of relevance to private company investors: what is the standard of review appropriate when there is no market evidence for an appraisal fight, and the Court is forced to decide between a ‘battle of the experts’?

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Infrastructure Investment Banking: Definitions, Deals, and a Dizzying Diversity of Verticals

Brian DeChesare

Infrastructure Investment Banking Definition: In infrastructure investment banking, bankers advise companies in the data center, renewables, transportation, utilities, and energy storage/transportation markets on equity and debt issuances, asset deals, and mergers and acquisitions. There are some famous counter-examples (e.g.,

Banking 59
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Leveraged Buyouts

Andrew Stolz

As per Macabacus (2018), the typical credit statistics can be (those can change with market conditions): Total Debt / EBITDA 4.5x -5.5. and 3% of the committed capital. The usual market practice is 2% of the committed capital. Exit Strategies.

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Do Hostile Restructurings Mean a New Identity for the “Official Committee” in Bankruptcies?

Reynolds Holding

7] Neiman Marcus was no different – in 2017, it transferred its crown jewel asset into a subsidiary that would be out of reach of creditors if the company eventually filed for bankruptcy. [8] 18] Certain features of modern-day distressed capital structures exacerbate this problem. 295 (2012); see also Thomas C. 165 (2008). [16]