Houlihan Capital serves as a Financial Advisor to Highwinds; Renders Solvency Opinion
Houlihan Capital serves as a Financial Advisor to Highwinds; Renders Solvency Opinion Houlihan Capital served as an independent financial advisor to the board of directors to Highwinds and rendered a solvency opinion in connection with their refinancing transaction and special dividend distribution For additional information, please contact: Paul Clark at pclark@houlihancapital.com or 312.450.8656.
Houlihan Capital Releases Article on Business Judgement Rule
Delaware Chancery Court Allows Business Judgment Rule Instead of Entire Fairness Standard in Minority Squeeze-Out Transaction A recent Delaware Chancery Court opinion by Chancellor Leo Strine, issued May 29, 2013, provides new guidance regarding when the less onerous “Business Judgment Rule” would apply as opposed to the stricter “Entire Fairness Standard” to evaluate the fairness […]
Overview: Going Private vs. Going Dark
Public companies are required to comply with United States Securities and Exchange Commission (SEC) filings and regulations. On average, public companies can spend anywhere from $1-$3 million a year more than similar private companies. Studies have shown that public companies spend more on investor relations personnel, board costs and, most significantly, costs of compliance with […]
SEC Commissioner addresses Valuation Issues – Compliance Alert
Last month, Commissioner Luis A. Aguilar of the U.S. Securities and Exchange Commission gave a speech (https://www.sec.gov/news/speech/2013/spch041813laa.htm) to the Regulatory Compliance Association in New York. The speech was focused on compliance as the foundation on which investor trust is built and kept. An effective and robust compliance program that is embedded into an entity’s investment […]
Houlihan Capital & Fairness Opinions
Studies have shown shareholders are challenging more and more Merger & Acquisition deals. “Currently, over 90% of M&A deals over $100 million are challenged by shareholders,” writes Vice Chancellor Donald Parsons Jr. (Delaware Court of Chancery) and attorney Jason Tyler (Sullivan & Cromwell) in a new paper (1). Any dissenting minority shareholder group poses a […]