HNZ Group’s chief executive won the bid to take his company private in a soaring three-party carve-out deal: a go-private deal worth a whopping 43.3-per-cent premium to the preannouncement share price.
The winning bid seemed a perfect match: Don Wall, the CEO, would buy the core business and long-time partner PHI would take over the Asia-Pacific division. But with its complex plan of arrangement, related-party bidder, multiple sources of financing and emergence of an unsolicited proposal, the devil was in the details for lawyers working to get the deal done.
Lexpert associate editor Gena Smith interviews the principals at www.lexpert.ca.
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