Simpson Thacher Partner John Finley Speaks on Harvard Law Panel on Private Equity
01.11.10
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Simpson Thacher Partner John Finley recently spoke on a panel at the Harvard Law School's Mergers & Acquisitions course discussing private equity transactions. Mr. Finley walked the class through the pre-2005 “traditional” structure of private equity transactions with financing "outs", the evolution to structures that eliminated financing outs but utilized reverse break fees for a failure to close, and the structures that have been used following the credit crisis.. The panel also discussed the evolution of deal terms in strategic transactions since the onset of the credit crisis including the increased usage of reverse termination fees or liquidated damages in strategic transactions. Finally, the panel addressed the evolution in financing terms from the LBO boom through the fall out from the credit crisis.
An audio recording of the discussion is available here.