Investors Can't Halt $610M CD&R Buy Of Water Treatment Co.

Law360, New York (March 13, 2013, 3:01 PM EDT) -- Culligan Ltd. dealers-cum-shareholders lost their bid Wednesday to challenge private equity firm Clayton Dubilier & Rice LLC's $610 million leveraged buyout of the water treatment company, after a New York state judge said that, whatever the deal's shortcomings, it wasn't a sham. 

Judge Jeffrey K. Oing said during a hearing that while he sympathized with the minority shareholders' complaints that the series of transactions in the buyout left Culligan saddled with debt, the shareholders themselves benefited from a dividend that was part of the deal and...
To view the full article, register now.