In a first for the public utilities industry, Troutman Sanders client Semco Energy is using a go-shop provision as part of a multimillion-dollar deal. The provision is an innovative technique that's emerging as an alternative to auctions. While a go-shop provision mainly benefits the company being bought, it also helps a buyer with an extra level of due diligence that could fend off litigation by shareholders who might otherwise challenge a deal, according to Troutman partner Terry C. Bridges.
March 22, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Private equity funds have been on a tear in recent years, buying up scads of companies across all industries. But these big funds have eschewed the auction model of acquiring assets.
Now a client of Troutman Sanders partner Terry C. Bridges is exploiting an innovative technique, called a go-shop provision, that’s emerging as an alternative to auctions.
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