Trade journals are full of articles discussing the plethora of M&A deals that have recently closed. However, for every closing there are far more deals that begin the process but are not completed. Each year, hundreds of thousands of dollars, if not more, are spent by buyers and sellers on deals that go nowhere. How can you avoid being a party to a doomed deal or, at least minimize your losses? What are the […]
Milbank LLP represented the lenders in connection with the financing of the acquisition of 100% of the shares of Zona Franca Celsia S.A. E.S.P., the owner of the 610 MW Termoflores power plant in Barranquilla, one of the largest gas-fired backup power plants in Colombia. The plant’s buyers are Prime Energía Colombia S.A.S. and Prime Colombia Barranquilla S.A.S., subsidiaries of EnfraGen, LLC, which is a subsidiary of Glenfarne Group.
The Milbank team was led by […]
We all know that plaintiffs’ lawyers file lawsuits following the announcement of every public company merger or acquisition (so-called “strike suits”). Occasionally, the allegations in one of these lawsuits involve potential conflicts of interest created by compensation arrangements proposed or negotiated before the stockholder vote—and not disclosed to stockholders.
Earlier this year, a federal appellate court decided such a case, the facts and alleged facts of which may be helpful to compensation professionals navigating these […]