28Aug
Debt-Free Deals with "Free Debt" – Practical Solutions for Sellers with PPP Loans in M&A
The majority of middle-market M&A has followed a similar structure for quite some time: while ensuring normalized working capital, the seller sweeps “Cash” and pays off all “Debt” at closing. The nuance, of course, lies in the definitions of “Cash” and “Debt.” “Cash” is usually a straightforward definition and excludes restricted cash, as well as checks and wires in transit. On the other hand, the definition of “Debt” usually takes up one-half to three-quarters of a page and, with limited...
By:
Holland & Hart LLP
Related
A recap of some of the most well-read M&A publications on JD Supra during 2019....By: Beacon Insight...
Read More >
The US Department of Justice Antitrust Division issued a new Merger Remedies Manual on September 3 c...
Read More >
In re Oracle Corp. Derivative Litig., C.A. No. 2017-0337-SG (Del. Ch. July 9, 2020) - After investi...
Read More >
Unable to reach a last-minute deal with investors, rental car mainstay Hertz filed for bankruptcy la...
Read More >
On June 13, 2019, the New York City Council passed Intro 799 to prohibit retaliation against individ...
Read More >
This month's key California employment law cases involve EEOC charges, disability discrimination, an...
Read More >