Believe it or not, we're seeing all sorts of M&A deals get done. Even deals in the $500 - $1,000 million range. I do admit, we're starting to see some very, VERY interesting things happen. One example: On a deal I recently closed, we had the strategic buyer ask for a financing contingency on the merger contract! The senior guys were shocked, they had never seen such things before. While we were able to get the deal closed, it was a true sign of the times. Another example: We had a financial buyer pledge that they would make good on the transaction, even if they weren't able to obtain financing, by buying the company entirely through cash from its funds. The financial buyer ultimately obtained the financing, but there was a very real possibility that they would not be able to, or that it would be delayed and they would need to bridge the gap with money from the fund.
Scary environment, but we're finding ways to be creative and pull through...
~~~~~~~~~~~
CompBanker
CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
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CEE
Slower, but still kicking ;)
Definitely...
I'm in restructuring -- it's literally exploding. We need to increase the headcount in our group to keep up with the engagements!
What kind of deals are getting done right now? I'm guessing that strategic M&A is robust - is the convert market still alive?
Believe it or not, we're seeing all sorts of M&A deals get done. Even deals in the $500 - $1,000 million range. I do admit, we're starting to see some very, VERY interesting things happen. One example: On a deal I recently closed, we had the strategic buyer ask for a financing contingency on the merger contract! The senior guys were shocked, they had never seen such things before. While we were able to get the deal closed, it was a true sign of the times. Another example: We had a financial buyer pledge that they would make good on the transaction, even if they weren't able to obtain financing, by buying the company entirely through cash from its funds. The financial buyer ultimately obtained the financing, but there was a very real possibility that they would not be able to, or that it would be delayed and they would need to bridge the gap with money from the fund.
Scary environment, but we're finding ways to be creative and pull through...
~~~~~~~~~~~ CompBanker
Numquam dignissimos cupiditate non nisi voluptas quidem. Et nulla sit id. Recusandae quas debitis dignissimos ex qui porro quia consequatur. Mollitia consequatur accusamus autem culpa recusandae ea repellat. Dolores animi tempore voluptate quia eos. Eligendi ratione tempore est sed soluta.
Similique ut molestias rerum est maxime. Dignissimos maiores officiis dolorum magnam. Nihil soluta sequi aliquam est.
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