Hillshire Brands agreed last month to acquire Pinnacle Foods for $4.3 billion in a deal intended to broaden Hillshire’s product offerings beyond Ball Park hot dogs, Jimmy Dean sausages, and other protein products by adding Pinnacle’s roster of iconic grocery brands including Birds Eye, Mrs. Paul’s, Log Cabin, Duncan Hines, Vlasic and more. The market […]
Owners of many privately-held businesses have sat out the recent resurgence in M&A activity while waiting for their company performance to rebound and waiting for M&A valuations to match their expectations once again. Abundant capital and fervent demand are fueling a strong M&A market, so owners should consider these five reasons to sell their businesses […]
Mirus recently sponsored the Advanced Manufacturing Summit in Worcester, which attracted hundreds of executives, local and state political leaders, and academics interested in the manufacturing industry. Governor Deval Patrick spoke about the important role advanced manufacturing plays in the local economy and multiple speakers discussed how their businesses, and the manufacturing sector, have changed over […]
A wave of consolidation has swept across the foodservice distribution industry over the past decade as Reinhart Foodservice, Performance Food Group and Gordon Food Service and others have expanded their market share through acquisition. Notable deals in New England include Reinhart’s purchase of Agar Supply and Gordon’s purchase of Perkins Paper. That wave is about […]
From Mintz Levin: “Although letters of intent and term sheets represent the first step in nearly all negotiated corporate transactions, parties should be aware of court rulings enforcing purportedly non-binding letters of intent. Parties should proceed with caution when drafting letters of intent or term sheets and in their course of conduct surrounding the negotiations of definitive agreements to help ensure they are not later bound to their ‘non-binding’ term sheet.”
All the technology in the world cannot replace the effectiveness of a good old fashioned sit down.
With rising valuations driven by a bull market and competition from strategic buyers, private equity firms are increasingly rolling up their sleeves and digging into deals that will require a little more effort in order to achieve their target returns.
I received this brief summary from Elizabeth Burnett and Jehanne Bjornebye at Mintz Levin and found it interesting. Several questions about the rights of shareholders and their conflicting rights as fiduciaries are addressed in the recent Superior Court decision Merriam v. Demoulas Super Markets, Inc. It’s instructive.