PE Firms Win Big With Del. Tender Offer Tweak

Law360, New York (August 8, 2013, 6:20 PM EDT) -- A recent change to Delaware tender offers is a big boost for private equity buyers, who can now sidestep financing snags that once put them at a disadvantage to strategic buyers.

It used to be that buyers using a tender offer needed 90 percent of shares to close a deal quickly. It was a high bar, and even with the help of some clunky but clever workarounds, many ended up stuck in no-man's land.

A new law requires just a simple majority. Buyers can close immediately...
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