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It’s about as definitive as a defense win can be: In an arbitration where HeidelbergCement AG was seeking $100 million from water and drainage pipe maker Forterra Inc. and private equity firm Lone Star Funds under an ‘earnout’ provision of the $1.4 billion deal where the pair bought Hanson Building Products from Heidelberg affiliates, an independent account arbitrator on September 10 found that there was no payout due under the terms of the deal. Journalists and lawyers have a reputation for being bad at math, but even you and I understand this much: $0<$100M.
Angela Zambrano, left, and Yolanda Cornejo Garcia, right, of Sidley Austin. Courtesy photos
