Product Details
Planning and drafting for the sale of a closely held company is unlike the sale of public companies. Agreeing on a valuation can be very difficult because there is no regular market of buyers and sellers and information on comparable sales is scarce. The companies are often financially structured to benefit a few shareholders, frequently members of a family, and require their financial statements and distribution policies to be normalized. There are can be substantial issues of liability, including successor liability in asset deals, requiring carefully crafted reps and warranties. Confidentiality is often essential in these transactions as sellers try not to unsettle existing commercial or workplace relationships. This program will provide you with a practical guide to major planning and drafting considerations in the mergers and buyouts of closely-held businesses.
Part 1:
-Major considerations in planning and drafting the merger or sale of a closely held company
-Confidentiality considerations in the sale and negotiation process
-How due diligence differs in the closely held companies - financial, operational and workforce red flags
-Types of transactions (stock v. asset) and forms of consideration (cash v. equity v. asset exchanges)
-Valuing profitable companies in illiquid markets
-Use or of earnouts to bridge the gap in valuation
About the Speaker
Tyler J. Sewell is a partner in the Denver office of Morrison & Foerster, LLP, where he specializes in mergers and acquisitions. He focuses his practice on advising financial and strategic buyers and sellers in public and private M&A transactions and complex corporate transactions. He negotiates and documents leveraged acquisitions, divestitures, asset acquisitions, stock acquisitions, mergers, auction transactions, and cross-border transactions. Mr. Sewell received his B.S., with merit, in ocean engineering from the United States Naval Academy and his J.D., magna cum laude, from the University of Pennsylvania Law School.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour, and including up to 1.0 Taxation Law Specialty Credit Hour
This seminar is an Intermediate level program.
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2020, please use this course code: 201780ADT
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2021, please use this course code: 213132ADT
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