In their latest book, Mergers and Acquisitions, Second Edition, Lew Segall and Ed Miller discuss a number of practice points and considerations that surround the practice of corporate transactions. One important issue that comes up in the context of International M&A is the effect of the Exon-Florio Act on acquisitions by foreign persons. Below is an excerpt from Mergers and Acquisitions, Second Edition discussing this practice point.
Sullivan & Worcester represented Challengeme Esports GmbH (CME), provider of one of the most
sophisticated eSport matchmaking and tournament platforms, in its acquisition of US-based platform provider, eSports Hero Inc.
Concurrent with the acquisition, CME received an investment from eSports Mogul (ESM), an ASX-listed eSports media company, and entered into a multi-year licensing agreement with ESM for the Asia-Pacific region.
The combination of the new acquisition and investment enables CME to expand out of its current European region and deploy access to its gaming platform and high-quality game servers into a worldwide market, including an immediate roll-out into North America, Southeast Asia and Australia.
Last week the Federal Trade Commission announced its annual updates to the Hart-Scott-Rodino Act, effective at the end of February. The Hart-Scott-Rodino Act gives the government a chance to review certain transactions for potential antitrust concerns. It requires that the acquirer give notice to the FTC and Department of Justice and imposes a waiting period on the transaction’s closing.
Under the revised thresholds, the Hart-Scott-Rodino requirements apply if either:
- An acquisition results in the acquiring person holding more than $80.8 million worth of voting securities and assets of the acquired person and the parties meet the “Size-of-Parties” requirements, or
M&A deals in the clean energy sector differ in several key ways from deals in other industries. Hayden Baker, a partner in Sullivan & Worcester's Corporate and Environmental & Natural Resources groups, discusses industry trends and best practices for clean energy deal lawyers.
The full article may be accessed at Lexis Practice Advisor.
The June 23, 2016 Brexit referendum has created substantial ongoing uncertainty regarding its ultimate impact upon the UK economy, the continental European economy and the global economy as a whole. Whether or not ultimate implementation of the Brexit decision turns out to be a “good thing” or a “bad thing” (economically, politically and otherwise) will depend upon whom you ask. While it will be some time before the dust settles sufficiently to make a fair assessment of the actual outcome, it is probably safe to say that it will be a “mixed bag” on an overall global basis.