Excerpts: New Tax Law Proposals Target Merger and Acquisition Transactions Congress is considering several tax changes that could adversely affect merger and acquisition transactions. Some of these proposals are outlined below. Spin-Off Rules Tightened: Buyers and sellers frequently consider spin-off transactions in connection with mergers and acquisitions. In a typical tax-free spin-off, a parent corporation […]
Excerpts: Westvaco Corp. v United States Environmental Protection Agency Nos. 89-2180; 2181 (899 F.2d 1383) (4th Cir. February 15, 1990) This matter is before the court on the motion of the United States Environmental Protection Agency (EPA) to dismiss consolidated petitions for review filed by Westvaco Corporation (Westvaco) challenging certain agency actions taken by EPA
Excerpts: Westvaco Corp. v United States Environmental Protection Agency 899 F.2d 1383 Nos. 89-2180, 89-2181 This matter is before the court on the motion of the United States Environmental Protection Agency (EPA) to dismiss consolidated petitions for review filed by Westvaco Corporation (Westvaco) challenging certain agency actions taken by EPA Region III on June 2,
Excerpt: Robert Baldwin’s return to investment banking Speaking of dealmakers: CEOs of undervalued companies may be getting a call from former Morgan Stanley chairman Robert Baldwin. After five years in semiretirement, Baldwin, 69, is chairman of a year-old investment banking boutique called Lodestar Group. With nearly $300 million provided largely by Japanese investors, Lodestar has
Excerpts: “Those Write-Offs At KinderCare” Watching with what must have been some nervousness were the principals of the Lodestar Group, an investment banking boutique that is underwriting an unusual recapitalization and split-up of the two companies. Lodestar could end up on the hook for up to $160 million if KinderCare’s share price falls below $5.75
Excerpts: “Under Siege: One CEO’s battle to save his small public company from a hostile takeover” Sitting in his 26th-floor office, high above the throb and pulse of midtown Manhattan, John Sheldon oozes self-assurance. The baritone timbre of his voice matches his assertive style of dress: dark-blue suit and brilliant-yellow tie offset by a pale-blue
Excerpts: “A Wall Street Boutique Names a Senior Partner.” The fourth senior partner was announced by Lodestar yesterday. Robert H. B. Baldwin will assume the chairman’s title at Lodestar from Ken Miller, who will remain chief executive. Mr. Baldwin, who is 68 years old, has been semiretired for the last five years since he stepped
Excerpts: “Executive Changes: The Lodestar Group” Lodestar Group, an investment banking firm formed by Ken Miller, appointed Wayne Thornbrough, formerly of State Street Research and Management Co., chief investment officer. In addition, John Sheldon from Goldman, Sachs and six Merrill Lynch Capital Markets executives, plus one from Merrill Lynch Japan were hired as vice presidents.
Excerpts: “Megadealer for the Rothschilds” Midway through the afternoon of Sept. 26, Robert S. Pirie, president of Rothschild Inc., waits anxiously in the salmon-colored dining room opposite his office at 1 Rockefeller Plaza. The dishes have been cleared away but the banker, having lunched on turbot quenelles, partridge and tarte tatin, washed down with the
Excerpts: A Merchant Banker Starts Own Firm Ken Miller is resigning as vice chairman of Merrill Lynch Capital Markets to start his own firm for buying out companies or taking controlling interests in them. Mr. Miller received his undergraduate degree from the University of Michigan and a master’s degree in Chinese studies from Yale. His
