- Category
- Announcements
- Date
- July 19, 2007
- Title
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Kramer Levin Represents Investment Management Company in Recent Merger
Kramer Levin represented Brencourt Associates, an investment management firm that resisted the initial merger agreement entered into by Vertrue Inc. with a consortium of private equity firms led by One Equity Partners. The original merger agreement was announced on March 22, 2007, and called for a cash acquisition at $48.50/share (approximately $800 million). Brencourt publicly objected to the deal on the basis of its low valuation and accumulated 28% of the outstanding stock in order to block the shareholder vote scheduled for July 12. The meeting was adjourned to permit a negotiated settlement, which resulted on July 19 in the price being raised to $50/share and Brencourt being given the opportunity to purchase a minority interest in the buyout group. Kramer Levin lawyers involved were Tom Balliett, Abbe Dienstag, Barry Herzog and Rebecca Porath.
Related People
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Abbe L. Dienstag
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- Counsel
- New York
- vcard
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Barry Herzog
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- Partner
- Chair, Tax
- New York
- vcard
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