Food M&A Heats Up
Over the past decade there has been a bifurcation of M&A activity in the food industry, as “better for you” health & wellness brands have attracted strong acquisition interest from both strategic and financial acquirers while more traditional steady, solid, profitable, but lower-growth food manufacturing businesses have not attracted as much attention. That is changing […]
“$163 million?!!!? Hey, Terminate ME!” (Break-up fees in the middle market)
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 […]
When a Non-binding Term Sheet Becomes Binding
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.”
7 Deadly Sins to Avoid When Acquiring a Business
Why do so many acquisitions fail? Because those companies failed to avoid these 7 Deadly Sins.