Week Ahead in Mergers and Acquisitions: Sept. 27, 2021


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(Reuters) – Here are some upcoming events of interest to the M&A legal community.

Monday, September 27th

9:30 a.m. – The US Securities and Exchange Commission will hold a meeting of the Asset Management Advisory Committee to review potential recommendations from the Subcommittee on Private Investments and Matters Related to Developing the Advisory and Small Advisory and Small Fund Subcommittees discuss. For further information, click here.

12:00 noon – A group of McGuireWoods attorneys will be reporting on the latest major developments regarding in-house attorneys as part of the American Bar Association’s monthly update for corporate attorneys. The meeting will be moderated by Sanford Pastroff, a Senior Counsel at Whirlpool Corp. Speakers include Casey Lucier, Wrede Smith, Joshua Wade and Sarah Zielinski. For further information, click here.

Tuesday, September 28th

10 a.m. – Luxury furniture retailer ABC Carpet & Home is requesting approval of its sales process with the aim of finalizing the sale of its assets by the end of October. The company has submitted a $ 15.3 million lead offer from a Regal Investments-controlled company.

The case is in re ABC Carpet Co. Inc., US Bankruptcy Court, Southern District of New York, No. 21-11591. For ABC: Oscar Pinkas from Greenberg Sad.

Thursday September 30th

9:30 am – A Stamps.com shareholder will ask Vice Chancellor Lori Will to approve a settlement that would see the insurers of Stamps.com board members pay the company $ 30 million. The settlement would absolve the board of directors from making allegations that they pushed for the acquisition of smaller competitors in support of alleged abuse of a USPS program that Stamps.com used to resell USPS postage. Plaintiffs attorney is requesting a withdrawal of up to $ 6.9 million to cover attorney fees.

The case is Macomb County Employees’ Retirement System v. McBride et al, Delaware Court of Chancery, No. 2019-0658. For Macomb County’s Employee Pension Scheme: Ned Weinberger, Mark Richardson, David MacIsaac, and John Vielandi of Labaton Sucharow. For Stamps.com and its board of directors: Richard Zelichov and Jonathan Rotenberg from Katten Muchin Rosenman.

Friday October 1st

9:15 am – A QAD Inc. shareholder will ask Vice Chancellor Paul Fioravanti in Wilmington to block the $ 2 billion takeover of the software maker by private equity firm Thoma Bravo. The shareholder, Nantahala Capital Partners II Limited Partnership, sued QAD and Thoma Bravo for completing an alleged “corrupt” sales process to sign the deal. The companies have not yet responded to the allegations.

The case is Nantahala Capital Partners II Limited Partnership v QAD Inc, Delaware Court of Chancery, No. 2021-0573. For Nantahala: David Schwartz from Labaton Sucharow. For QAD: Andrew Morrison from Manatt, Phelps & Phillips. For Thoma Bravo: Mark McKane and Ashley Littlefield from Kirkland & Ellis.

(Note: this story has been updated with additional procedures.)

Do you know of an event that could be included in Week Ahead in M&A? Contact Sierra Jackson at [email protected]

Sierra Jackson

Sierra Jackson reports on legal matters relating to major mergers and acquisitions, including deal work, litigation, and regulatory changes. You can reach them at [email protected]

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