Deal lawyers look for sunshine amid recession clouds
Fulton County Daily Report
November 19, 2009
Employee Stock Ownership Plans (ESOP) Partner Todd Butler was quoted in the article "Deal lawyers look for sunshine amid recession clouds; deals worth less than $100M, ESOPs and even venture capital work keep a pulse in transactional practices" published in the Fulton County Daily Report on November 17.
The article discussed the recent popularity of ESOPs despite the challenges brought about by the economy. While the lack of available credit has put a significant dent in large merger and acquisitions, the market for ESOPs may have spiked. "I personally am involved in more ESOP transactions now than I ever have been," Mr. Butler said. "It's just that financing the transactions has never been more challenging." He indicated that ESOPs are attractive for several reasons, including tax advantages and because they create a buyer for the company at a price that is not impacted by the overall state of the economy.
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