Mergers & Acquisitions
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Upcoming Webcasts
China Domestic / Inbound Investment
Privatization: The Key to Unlocking Hidden Value in China Divestitures?
30 May, 5:00 – 6:00 PM HKT (GMT +8)
Host: Josephine Jiang
Presenters: Connie Ho and Andrew Tsang
With weak capital markets persisting in China and the region, market multiples remain low for many companies creating an environment in which divesting companies may be undervalued. Could privatization drive more value? And with what possible risks and rewards? We'll discuss:
- Recent privatization trends and drivers in the Greater China marketplace, including scarce quality assets in Asia Pacific high-growth markets.
- Potential risks of privatization compared to other divestiture methods.
- Possible rewards of privatization, including the opportunity to restructure, insulation from stock market volatility, and regaining majority control.
- Designing and implementing privatization strategies, including recent case studies.
Explore drivers behind the wave of privatizations being undertaken by Chinese companies and how related challenges and opportunities may be relevant to your growth strategy.
(Tune in to a relevant webcast presented in Putonghua at 11:00 AM HKT (GMT +8) on 6 June. Please visit Chinese language webcasts website for program details.)
China Outbound Investment
Possible Impacts of Employee Benefit Liabilities on Deal Price
13 June, 5:00 – 6:00 PM HKT (GMT +8)
Host: Warren Zhao
Presenters: Mark O’Reilly, David Robbins, and Paul Yates
Although Chinese companies have retirement liabilities, those of foreign companies they wish to acquire can be fundamentally different. Since employee benefits can lead to significant purchase price adjustments for international transactions, what are the important factors to consider in upcoming acquisitions or dispositions? We'll discuss:
- An overview of employee benefit liabilities around the world and strategies for negotiating the potential price impact of such liabilities during acquisition or sale.
- A focused look at employee benefit liabilities in the U.S.
- Risks and opportunities of defined-benefit plans – do you really need to take them?
- Post-merger integration issues and what is worth trying to change.
Learn about employee benefit considerations from the buyer's perspective and possible effects on China outbound acquisitions involving U.S. businesses.
(Tune in to a relevant webcast presented in Putonghua at 11:00 AM HKT (GMT +8) on 20 June. Please visit Chinese language webcasts website for program details.)
Archived Webcasts
Mergers & Acquisitions
Distressed Acquisitions in the U.S.: Opportunities and Risks for Buyers
21 March 2012
Host: Ming Xie
Presenters: Glen Ho, Brian Lee (Partner, PivotPoint Law), and Farley Lee
In current economic conditions, companies with over-leveraged balance sheets are particularly susceptible to default, even though the business may be fundamentally sound. How can investors acquire such companies in the U.S. at a substantial discount while keeping risks manageable? We'll discuss:
- Reasons for discounting in distressed M&A, including cash deal, "as is" sale, sale under time pressure, and few experienced buyers.
- Potential major risks when purchasing distressed companies, including successor liability, fraudulent transfer lawsuits, liens following assets, and third-party interference.
- Two different ways to address risks – Uniform Commercial Code foreclosure versus bankruptcy sale.
- An advanced lesson on loan-to-own strategies.
Learn about distressed acquisition opportunities in the U.S. and possible considerations from buyer's perspective.
(View a relevant webcast presented in Putonghua aired on 28 March. Please visit Chinese language webcasts website for program details.)
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