Shearman & Sterling

DECEMBER 12, 2017

​On November 30, 2017, Vice Chancellor Tamika Montgomery-Reeves of the Delaware Court of Chancery dismissed breach of fiduciary duty claims against the board of Opower, Inc. ("Opower") in connection with Opower's acquisition by Oracle Corporation ("Oracle"). Van der Fluit v. Yates, C.A. 12553-VCMR (Del. 3d 304 (Del.

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Mergers Negotiation Corporation Acquisitions 40

IBG

AUGUST 1, 2024

We are always alert to the tax aspects and, during the sale and negotiating process, will work to negotiate a structure that favors the seller. Deal structure can help whittle down the actual taxes through buyer-seller negotiations and cooperation.” 5 million adjusted for inflation since 2017). million (i.e., $5

Sale 52

Sale Business Negotiation M&A 52

Shearman & Sterling

JULY 25, 2017

On July 21, 2017, Vice Chancellor J. July 21, 2017). Stockholder petitioners had challenged the merger, alleging that Sprint was a controlling stockholder of Clearwire and allegedly breached its fiduciary duties during negotiations leading to a deal price that substantially undervalued Clearwire. per share. . &

Discounted Cash Flow 52

Discounted Cash Flow DCF Corporation Mergers 52

Shearman & Sterling

NOVEMBER 14, 2017

Plaintiff alleged that the CEO—who together with an affiliated entity (Allied's parent company) controlled nearly 60% of Erin's shares—effectively stood on all sides of the challenged transactions and negotiated in his own self-interest. Lawal, C.A. 11963 (Del.

Corporation 40

Corporation Negotiation Shares Investment 40

Shearman & Sterling

AUGUST 29, 2017

On August 18, 2017, Vice Chancellor Joseph R. Plaintiffs asserted that the sale was conflicted because Stewart negotiated for greater consideration for herself than for other stockholders and that the transaction did not meet the standards for application of the business judgment rule. In re Martha Stewart Living Omnimedia, Inc.

Negotiation 40

Negotiation M&A Sale Mergers 40

What's Market

SEPTEMBER 6, 2022

The most recent three of these studies (2017, 2019 and 2021) have looked at representation and warranty insurance (“RWI”) in private company M&A transactions. The percentage of transactions expressly referencing RWI increased from 29% in the 2017 study, to 52% in the 2019 study, to 65% in the 2021 study.

Insurance 52

Insurance Mergers and Acquisitions M&A Mergers 52

Sica Fletcher

OCTOBER 23, 2024

It also opens the door for savvy buyers to talk them out of millions of dollars when it comes time for negotiations. How much higher, however, depends on the marketing process, due diligence, and negotiations as handled by your M&A advisor. Learn more at SicaFletcher.com.

Valuation 52

Valuation M&A Insurance Advisory 52

Shearman & Sterling

JUNE 30, 2020

2017-0337-SG (Del. Plaintiffs alleged that defendants had aided and abetted breaches by Oracle's directors by failing to disclose in NetSuite's public filings certain aspects of the negotiations that allegedly would have alerted Oracle's special committee for the merger to the fact that Oracle was overpaying.

Mergers and Acquisitions 52

Mergers and Acquisitions Negotiation Corporation Mergers 52

Shearman & Sterling

JULY 25, 2017

On July 21, 2017, Vice Chancellor J. July 21, 2017). Stockholder petitioners had challenged the merger, alleging that Sprint was a controlling stockholder of Clearwire and allegedly breached its fiduciary duties during negotiations leading to a deal price that substantially undervalued Clearwire. per share. . &

Discounted Cash Flow 40

Discounted Cash Flow DCF Corporation Mergers 40

IBG

MARCH 14, 2024

Some R&W provisions are boilerplate, while others are negotiated and carefully tailored to the deal, the nature of the company, its operations and financial condition, and how the seller has described them. Whether and how the policy premium will be split between buyer and seller is a matter for negotiation. “No

Sale 52

Sale Business M&A Insurance 52

Sica Fletcher

SEPTEMBER 17, 2024

This is why it’s so important to have an experienced partner on your team handling the valuation and all associated negotiations. What qualifies as a non-recurring expense when calculating the adjusted EBITDA for insurance agencies is often enthusiastically negotiated by your team and the buyer’s. Learn more at SicaFletcher.com.

Insurance 52

Insurance Valuation Profitability M&A 52

Shearman & Sterling

JUNE 30, 2020

2017-0337-SG (Del. Plaintiffs alleged that defendants had aided and abetted breaches by Oracle's directors by failing to disclose in NetSuite's public filings certain aspects of the negotiations that allegedly would have alerted Oracle's special committee for the merger to the fact that Oracle was overpaying.

Mergers and Acquisitions 40

Mergers and Acquisitions Negotiation Corporation Mergers 40

What's Market

AUGUST 29, 2022

The 2017, 2019, and 2021 ABA studies each show that indemnity caps and indemnity baskets were lower in reported deals where representations and warranty insurance (RWI) was referenced in the deal documents, as compared with transactions without any such reference.

Mergers and Acquisitions 52

Mergers and Acquisitions M&A Mergers Insurance 52

Sica Fletcher

APRIL 30, 2024

That amount is trickier, often subject to negotiation and various deal structures consisting of cash vs. equity and post-closing consulting/employment agreements. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Insurance 52

Insurance Valuation M&A S&P 52

Growth Business

MARCH 4, 2024

What AI is doing for us now AI is already able to drive vehicles and negotiate obstacles. This article was originally written and published by Praseeda Nair on 2 August 2017. On the other hand, there are concerns AI will aid cyber attacks, spread fake news and decrease job security.

IT 52

IT Boutique Bank Banking 52

Sica Fletcher

JUNE 11, 2024

As long as buyers face higher interest rates, sellers should expect a prolonged deal process contending with complex capital structures and equity-based negotiations. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on.

Broker 52

Broker Insurance Valuation S&P 52

Sica Fletcher

JUNE 14, 2024

Negotiating Your Insurance Agency Purchase Price Even after you’ve determined the most likely insurance agency purchase price, the reality is that the rest of the M&A deal process is highly nuanced and requires a great degree of skill. S&P Global Data, PitchBook, PWC) or through M&A indexes provided by M&A advisory firms.

Insurance 52

Insurance Valuation M&A S&P 52

Cooley M&A

MAY 5, 2020

In 2017, the Company began experiencing financial difficulty as it worked to update its flagship product, and in early 2018 it formed a special committee of its three independent directors to consider options for additional ways to raise capital. 2017 WL 1201108, at *13 (Del. 31, 2017). [5] Curry , 2017 WL 1076725, at *3 (Del.

Negotiation 40

Negotiation Mergers and Acquisitions Utilities IT 40

Cooley M&A

FEBRUARY 8, 2018

A recap of 2017 trends and the Cooley outlook on this year’s dealmaking: Buying Innovation: Retention and Non-Competes. Approval of gross-ups in connection with a transaction typically involves a prior negotiation with the buyer. See ABA Private Target Mergers & Acquisitions Deal Point Study for 2016-2017.

M&A 52

M&A Mergers and Acquisitions Mergers Negotiation 52

Sica Fletcher

JULY 2, 2024

For example, knowing how much equity the buyer has utilized in previous deals can give you a good idea of what to expect when you finally sit down at the negotiating table. Keep a close eye on earnouts, post-closing employment contracts, and how well a buyer supports the seller following the finalized negotiations.

Insurance 52

Insurance M&A Private Equity Advisory 52

Sica Fletcher

OCTOBER 16, 2024

The essential takeaway from these insights is that the 2024/2025 market will be a great time to sell an RIA, but sellers should be prepared for a lengthy deal process full of complex negotiations. This is likely to pick back up following the election in November as the regulatory future of the industry becomes more clear.

Valuation 52

Valuation Mergers and Acquisitions M&A Insurance 52

What's Market

AUGUST 22, 2022

The 2017, 2019, and 2021 ABA studies each show that indemnity caps were lower in reported deals where RWI was referenced in the deal documents, as compared with transactions without any such reference.

Mergers and Acquisitions 52

Mergers and Acquisitions M&A Insurance Mergers 52

Cleary M&A and Corporate Governance Watch

MAY 12, 2023

Legal Context The principle of freedom of contract, which allows sophisticated parties to freely negotiate the terms of their agreements and to rely on the enforceability of such agreements is a cornerstone of Delaware law. 2017-0466-JRS (Del. in the case of fraud). [3] in the case of fraud). [3] 2d 1068 (Del. 6] Manti Holdings, LLC v.

Corporation 52

Corporation Investors Negotiation M&A 52

Sica Fletcher

APRIL 2, 2024

In deals with the highest earnout, business owners turn to a specialized M&A advisory firm to handle negotiations and oversee valuations. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Learn more at SicaFletcher.com.

Insurance 52

Insurance M&A S&P Broker 52

Sica Fletcher

MAY 15, 2024

Ask an Advisor Not only will an experienced M&A advisor have a better idea of how your insurance agency will be valued, they can also help you negotiate an even better payout when you take it to market. “How Much Is My Insurance Agency Worth?” Learn more at SicaFletcher.com.

Insurance 52

Insurance M&A S&P Valuation 52

Sica Fletcher

MARCH 26, 2024

Due Diligence, Final Negotiations, & Closing Due diligence essentially takes the form of a secondary valuation the buyer conducts to uncover any potential risks in your company that have not already been discussed. Your attorney, in particular, should take the lead on final negotiations. Learn more at , ,, SicaFletcher.com.

M&A 52

M&A Insurance Valuation Advisory 52

Cooley M&A

NOVEMBER 20, 2023

Compensation matters, including retention packages, equity treatment and related disclosure, are always key negotiating points in M&A transactions. In other words, post-closing arrangements may be excluded from 280G analysis, but only if they were not significantly negotiated before closing.

M&A 52

M&A Equities Shares Advisory 52

What's Market

AUGUST 15, 2022

For example, if the buyer discovers something in diligence that warrants negotiation of enhanced rights and remedies, it may also negotiate for a separate escrow, apart from the standard general indemnity escrow, to ensure funds are available if any of the enhanced remedies are triggered. The chart below shows this trend.

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Mergers and Acquisitions M&A Mergers Acquisitions 52

Focus Investment Banking

JUNE 13, 2023

In addition to negotiated payments, providers can earn incentives for providing high-quality, efficient care. Formerly owned by Tahoe Investment Group, which bought the company in April 2017, Alliance was acquired by Akumin, a publicly traded company, in June 2021 for $820 million. Alliance Health Services. US Oncology Network.

Hospitality 52

Hospitality Private Equity Healthcare Mergers and Acquisitions 52

Sica Fletcher

SEPTEMBER 12, 2024

Changes in Final Negotiations Following the buyer’s due diligence, their teams will meet with your advisors to discuss the contract’s final terms. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Learn more at SicaFletcher.com.

Insurance 52

Insurance Valuation M&A S&P 52

Focus Investment Banking

MARCH 28, 2024

Notable Trends in the Ophthalmology PPM Market We have had multiple ophthalmology transactions on the market at a given time since 2017. We are seeing strong valuations in our own sell-side auctions, likely driven by competition among the existing PPMs as they seek to show continued inorganic growth.

Private Equity 52

Private Equity Equities Valuation Acquisitions 52

Peak Frameworks

SEPTEMBER 12, 2023

Remember the tumultuous acquisition attempt of Unilever by Kraft Heinz in 2017? For an investment banker, this could range from due diligence, and financial modeling, to deal negotiations. Flexibility Issues : Fixed contracts might deter some clients. Clarity: Potential misunderstandings if the scope isn’t detailed.

Finance 52

Finance Finance Mergers and Acquisitions Private Equity 52

Sica Fletcher

SEPTEMBER 3, 2024

Risks When Selling an Insurance Agency Book of Business Once it’s been valued, marketed, and reviewed, the final steps in selling an insurance agency book of business are the final negotiations and closing. The following section outlines common payment structures in BoB transactions. Learn more at SicaFletcher.com.

Insurance 52

Insurance Business Valuation M&A 52

Transactional Delights

NOVEMBER 24, 2020

Leaks usually happen when there’s a stalemate in negotiations and can skew in the target’s favor in that the target may see a pop in its publicly traded price. In February 2017, TIF and JANA announced a cooperation agreement whereby Francesco Trapani (a key man here [9] ) and two others were appointed to the Board.

M&A 40

M&A Mergers and Acquisitions IT Shares 40

Sica Fletcher

JULY 23, 2024

This means that they often lack the specialized industry knowledge to effectively negotiate your deal. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Are you meeting the firm’s principals? Learn more at SicaFletcher.com.

M&A 52

M&A Insurance S&P Valuation 52

Cooley M&A

OCTOBER 26, 2017

In this case, while we do not know the history of the parties’ negotiation, it appears that the parties bargained for a narrow definition of a successful outcome of the pending clinical trial and the outcome of the trial did not meet this technical definition. 12147-VCS, August 9, 2017). See a copy of Fortis Advisors LLC v.

Mergers and Acquisitions 52

Mergers and Acquisitions Mergers Negotiation IT 52

Sica Fletcher

MARCH 12, 2024

This has been especially relevant over the last 18 months, with macroeconomic pressures making deals more difficult to negotiate. According to S&P Global, Sica | Fletcher ranked as the #1 advisor to the insurance industry for 2017-2023 YTD in terms of total deals advised on. Learn more at , ,, SicaFletcher.com.

Valuation 52

Valuation Insurance M&A Profitability 52