In most mergers and acquisitions (M&A), employment issues are rarely the headline drivers of valuation. Buyers tend to focus on revenue growth, intellectual property, market share and operational synergies. Yet in many transactions, workforce-related liabilities become some of the most significant sources of post‑closing exposure.
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A three-judge panel explained that the transaction wasn’t a sale subject to the Securities Act, as holders of Barclays’ exchange-traded notes had neither gained nor lost anything when Barclays forced them to trade four for one. The panel said the financial services company had an "ironclad right" to split the notes.
Multi-billion pound FTSE 100 deals were once the reserve of the U.K. elite, but after years of building up strategic M&A capability in London, U.S. firms have secured leading roles on Glencore's possible $200 billion combination with Rio Tinto and on Anglo American's $70...
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