M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Monday, February 4, 2008

Blackstone Motion to Dismiss ADS Case

Here it is.  The first paragraph bears quoting: 

Defendants, affiliates of The Blackstone Group L.P. (“Blackstone”), have been attempting for many months to complete the acquisition of ADS. This is a transaction that they remain steadfastly committed to complete. This is not the

United Rentals

case or a case of “buyer’s remorse.” This is not a situation where a private equity buyer has been unable to obtain financing due to the current condition of the debt markets – Blackstone has all necessary committed financing to complete the transaction. This is not a situation where the buyer would like to negotiate a reduction in the purchase price – Blackstone remains committed to complete this transaction at the negotiated price of $81.75 per share if the approval of the transaction by the Office of the Comptroller of the Currency (the “OCC”) can be obtained on acceptable terms.


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Nothing like the OCC making a true hash of who the bank credot amd liquidity guarantor should be, shell company or shell's deep-pocket owner. Game, BX.

Posted by: Mike | Feb 4, 2008 9:44:10 PM

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