Blog — Beyond the Virtual Law Firm
Category: Mergers & Acquisitions
Microsoft Buys Skype, Obtains FTC Approval
Microsoft made the headlines on May 10, 2011, when it acquired videoconferencing giant Skype for a reported $ 8.5 billion. Following the antitrust procedure of the Hart-Scott-Rodino Act, the companies filed a pre-acquisition notification to the various government bodies, required before the deal can be finalized.
Trading on the Secondary Market
In recent years, the secondary market for stocks – a platform through which investors can buy and trade shares of private companies – has grown exponentially in size and use. This year, transactions on the online platforms of SharesPost and SecondMarket alone have totaled over $ 4.6 billion, and are projected to exceed $ 6.9 billion next year. This does not include the much larger volume of trading by traditional broker-dealers and financial advisers, or other online platforms.
Delaware Court Enjoins Merger Vote Citing Financial Advisor’s Conflict of Interest
On February 14, 2011, in In re Del Monte Foods company Shareholders Litigation, the Court of Chancery issued a preliminary injunction which delayed for 20 days a stockholder vote on the proposed leveraged buyout of Del Monte foods by a private equity group made up of Kolberg Kravis Roberts & Co. L.P. (KKR), Vestar Capital Partners (Vestar), and Centerview Partners.