Lehman / Barclays: M&A mit heißer Nadel und Steilvorlage für Populisten
am 21.09.2008 von http://www.jurabilis.de
Barclays’ move to snap up Lehman Brothers’ broker-dealer operations for around $250 million — and take its New York headquarters and some data centers in New Jersey for an additional $1.5 billion or so — would have been unthinkable just a few days ago. But on Wednesday, a bankruptcy judge signed off on the proposed sale process. The terms call for a break-up fee of $100 million, which Lehman must pay to Barclays if it accepts another bid (which seems highly unlikely at this point).
[...] The hastily drawn-up merger agreement filed with the court was full of handwritten addenda and clauses scribbled in the margins. According to the merger agreement, the deal must be closed by Wednesday, Sept. 24, or else it is null and void.[NY Times DealBook]
Wie üblich legt die Käuferin großen Wert darauf, dass die entscheidenden Mitarbeiter erhalten bleiben. Das erfordert natürlich auch Großzügigkeit bei den Boni:Barclays has also identified 200 employees “that have been designated as key to the success of the business,” according to the filing, along with eight employees designated as “critical” to the firm. Barclays requires a “substantial majority” of those 200 key employees and all eight of the critical employees to stay on or, again, the deal won’t close.
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» Whos Getting What in the Lehman-Barclays Deal - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times
DealBook is a financial news service reporting on mergers, acquisitions, venture capital and hedge funds and is produced by The New York Times.
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