Defence industry M&A — avoiding pitfalls in a distressed deal context
By Sarah E Kahn and C Kevin Kobbe
Although there have been some strategic divestitures and continued interest in certain areas (such as UAVs and cybersecurity), the Budget Control Act, sequestration and the drawdown of US troops in conflict areas around the globe have resulted in a fairly cautious defence industry M&A market. Pricing expectations of many targets and their potential acquirers have remained out of sync, with some of those targets hit particularly hard by budget cuts.
While this can result in significant leverage on the buy side, acquirers need to be aware of pitfalls when buying a distressed company or its assets. Writing for The Government Contractor, DLA Piper corporate partner Sarah Kahn, who co-chairs the firm’s defence industry transactional practice, and Kevin Kobbe, DLA Piper bankruptcy partner, explore these challenges…
Click on the link below to read the rest of the DLA Piper briefing.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The Financial Report — analysis of US bank counterparty data; Hong Kong releases REIT consultation conclusions; and more
DLA Piper has released the latest version (Volume 3, No.14) of The Financial Report, featuring news and analysis from across the financial sector.
One of the most attractive features of doing business in the Netherlands is the possibility of obtaining an advance tax ruling (ATR) and/or advance pricing agreement (APA).
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions