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By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. Acquisition Financing: Buyer and Seller General Perspectives It is understandable that before lenders will agree to lend millions, and sometimes billions, of dollars to fund an...

By: Stephen Gillespie and Amy Kennedy , Gibson, Dunn & Crutcher. 1. What are the typical debt components of acquisition financing in the United Kingdom? Acquisitions in the United Kingdom are typically financed either by way of leveraged loan...

By: Juan M. Arciniegas and Daniel O’Rourke , Vedder Price. Recently, there has been a movement by larger community banks and their regional counterparts (Interested Banks) to engage in derivatives markets. Historically, this is banking space...

By: Moises Gali-Velazquez. Medical marijuana is legal in 23 states and the District of Columbia. 1 Moreover, four states have legalized marijuana’s recreational use and at least 18 more states are, or have been, considering legalization of medical...

By: Dwight Smith , Nelson Mullins Riley & Scarborough LLP. THE DODD-FRANK WALL STREET REFORM AND CONSUMER Protection Act (Dodd-Frank), 111 P.L. 203 , addresses commercial lending in two of its titles. First, and most prominently, Title I of the...

By: Steven I. Glober , Gibson, Dunn & Cruther LLP. The purchase price provisions are among the most critical terms of a merger agreement. The value of the consideration to be paid by the acquirer to the target’s stockholders will be affected...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. IN RECENT YEARS, THE NEGOTIATION OF AN ACQUISITION agreement and related acquisition financing commitment has become increasingly complicated, involving multiple parties. The buyer...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. Closing on Terms of the Purchase Agreement (Amendments) Because the buyer typically chooses specific lenders with the understanding that their commitment letter will be subject...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. TAX CONSIDERATIONS—FEDERAL, STATE, LOCAL, AND foreign income taxes, as well as other types of taxes such as transfer and property taxes—are a major consideration when...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. ACQUISITION FINANCINGS INVOLVE CERTAIN COLLATERAL security and intercreditor issues, including: The extent and perfection of collateral security for the borrowing The scope...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. Equity Equity financing for a business acquisition can take many forms and is highly dependent on the structure of the acquisition. For example, a public or private company may...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. THE FINANCING SOURCES FOR BUSINESS ACQUISITIONS are as varied as the structure and motivations for the acquisitions themselves. The most efficient source depends on several factors...

By: Linda Curtis and Andrew Cheng , Gibson, Dunn & Crutcher LLP. Business acquisitions vary widely in terms of size and structure, the parties involved, and the nature of the financing involved. The parties typically involve one or more buyers...

FDIC HIGHLIGHTS RESOURCES ON BANKING FOR SMALL BUSINESSES THE FEDERAL DEPOSIT INSURANCE Corporation highlighted the agency’s resources to help small businesses get the most from their banking relationships. Small businesses employ roughly...

By: Robert N. Rapp , Calfee Halter & Griswold LLP LEXIS PRACTICE ADVISOR RESEARCH PATH: Securities & Capital Markets > State Securities Regulations – Blue Sky Laws> Blue Sky Laws > Practice Notes > “Regulation A-Plus”...

SEVENTEEN STATE “NEW ENERGY FUTURE” COALITION FORMED GOVERNOR ANDREW M. CUOMO AND 16 OTHER GOVERNORS signed the Governors’ Accord for a New Energy Future. The accord describes six shared goals, diversification of energy generation...

By: Alexandra Margolis , Nixon Peabody LLP LEXIS PRACTICE ADVISOR RESEARCH PATH: Banking & Finance > Commitment Papers and Syndicated Lending > The Commitment Letter > Articles > Trends in Acquisition Finance Incremental loan facilities...

HIGH-IMPACT EVENT TO GLOBAL FINANCIAL SYSTEM MORE LIKELY, PREDICT FINANCIAL PROFESSIONALS ACCORDING TO ONE MEASURE, RECENT WORLD EVENTS have financial professionals unnerved. Forty-five percent of those surveyed by the Depository Trust & Clearing...

ENERGY DEPARTMENT UNVEILS ROADMAP SEEKING TO DOUBLE U.S. ENERGY PRODUCTIVITY BY 2030 THE U.S. DEPARTMENT OF ENERGY HAS UNVEILED A strategic plan laying out a path businesses, state and local governments, consumers, and other stakeholders can use to...

Q&A with David W. Morse , Banking & Finance Chair at Otterbourg P.C. What led you to choose commercial finance and institutional lending as your area of practice? Serendipity is the word that comes to mind. While I knew that I preferred...

By: John Chrisman, David Richardson and Alan Lee Corporate Deparment, Hong Kong Office of Dorsey & Whitney* SINCE ADOPTING THE OPEN DOOR POLICY SOME 35 YEARS ago, 1 Mainland China 2 has largely completed the transition from a centrally planned...