Friday, May 24 2013 9:54 PM EDT2013-05-25 01:54:42 GMT
An Au Sable Forks, New York theater is one of ten in the North Country doing what it can to stay open. "We'll be dark. There will be no movies shown in these theaters and you'll have toMore >>
After being denied a state grant, a number of North Country theaters could go dark by the end of the year. That's because Hollywood is getting rid of film movies, which is what those theaters rely on. But they're not giving up yet.More >>
Friday, May 24 2013 8:51 PM EDT2013-05-25 00:51:11 GMT
A couple has lost their home to floods twice in just three years. Last night's storm washed out a road in Underhill, and nearly everything in its path. Governor Shumlin was at the site of the hardestMore >>
A couple has lost their home to floods twice in just three years. Last night's storm washed out a road in Underhill, and nearly everything in its path.More >>
Friday, May 24 2013 7:25 PM EDT2013-05-24 23:25:36 GMT
Beansie's Bus is situated right along the start and finish of the race so they're looking to get swamped by hungry customers Sunday but rain too. "Unfortunately the weather might not cooperate," Beansie'sMore >>
VCM organizers making sure they have cold/rainy weather equipment for runners.More >>
Friday, May 24 2013 6:21 PM EDT2013-05-24 22:21:38 GMT
Damaged homes, washed out roads, and now major clean-up.In just a few hours heavy rains flooded much of Northern Vermont. Hardest hit were Essex, Jericho, and Underhill.The torrential rains Thursday nightMore >>
Damaged homes, washed out roads, and now major clean-up.More >>
Friday, May 24 2013 2:15 PM EDT2013-05-24 18:15:28 GMT
The Vermont Agency of Transportation released a list of road closures and times for the Vermont City Marathon. A press release says that if possible, motorists should avoid downtown Burlington on Sunday,More >>
The Vermont Agency of Transportation released a list of road closures and times for the Vermont City Marathon.More >>
Friday, May 24 2013 1:07 PM EDT2013-05-24 17:07:11 GMT
The Thunder Road Memorial Classic has been postponed until Monday. Officials say they are postponing due to the upcoming inclement weather expected this weekend. Here's the updated schedule of events:7:30amMore >>
The Thunder Road Memorial Classic has been postponed until Monday.More >>
Friday, May 24 2013 12:26 PM EDT2013-05-24 16:26:27 GMT
The Essex Memorial Day Parade has been canceled due to inclement weather predictions. According to Essex Memorial Day Parade Committee, the parade has been postponed one week to Saturday June 1 at 10 a.m.More >>
The Essex Memorial Day Parade has been postponed due to inclement weather predictions.More >>
Friday, May 24 2013 11:31 AM EDT2013-05-24 15:31:32 GMT
The Burlington Police Department arrested two people for pick-pocketing two men at a local night club in Burlington, Vt. on Friday, May 17.Police say Stephanie Rivers, 24, and Victoria Hammond, 23, bothMore >>
The Burlington Police Department arrested two people for pick-pocketing two men at a local night club in Burlington, Vt. on Friday, May 17.More >>
Friday, May 24 2013 10:29 AM EDT2013-05-24 14:29:26 GMT
If the prices at the pump are giving you second thoughts about traveling this holiday weekend, these suggestions might help. The New York State Energy Research and Development Authority has some recommendationsMore >>
If the prices at the pump are giving you second thoughts about traveling this holiday weekend, these suggestions might help.More >>
Friday, May 24 2013 8:52 AM EDT2013-05-24 12:52:16 GMT
A Windham County man cashes in a lucky lottery ticket. Frederick Randall matched 4 out of 5 numbers plus the power ball for the April 5th drawing.He would have won $10,000, but he played an extra buckMore >>
A Windham County man cashes in a lucky lottery ticket.More >>
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SOURCE CMS Legal Services
CMS publishes 5th European M&A Study
FRANKFURT, Germany, March 18, 2013 /PRNewswire/ -- In a review of 1,700 deals done between 2007-2012, CMS' fifth annual M&A Study shows that there are key differences in the risk allocation between the US and Europe – reflecting interesting cultural and regulatory variations in the markets.
"Now in its fifth year, the M&A study is fascinating reading for businesses looking to do deals across borders, and understand the norms in other countries," said Cornelius Brandi, Executive Chairman of CMS. "It exemplifies the value that CMS delivers to clients in providing both multi-national expertise and a deep understanding of the issues that drive businesses today."
Thomas Meyding, Head of CMS Corporate Group, comments, "Our analysis of the deal structures chosen illustrates very different behaviours on either side of the Atlantic. Attitudes to risk and reward vary significantly and this is clearly shown by the legal provisions that are used."
For example, MAC clauses are much more popular in the US (being used in 93% of deals) than in Europe where they only appear in 14%. Another sizeable difference exists in the use of working capital adjustments as a criterion for purchase price adjustment, used in 77% of cases in the US as opposed to just 34% in Europe. The explanation for this may simply be the diversity that one sees in 50 different countries as opposed to 50 different states in one country.
Other key findings include:
Earn-out deals are more popular in the US. 38% of US deals had an earn-out component compared with just 16% in Europe in 2012.
Not only are baskets much more prevalent in the US, but the basis of recovery is different. In the US, 62% of relevant deals are based on 'excess only' recovery as opposed to 'first dollar' recovery compared with only 29% in Europe in 2012 for 'excess only' recovery.
Basket thresholds tend to be lower in the US with 88% being less than 1% of the purchase price compared with 49% in Europe and that is probably because there is less payback for purchasers because of the prevalence of "excess only" recovery.
Meyding concludes, "Europe may not seem as exciting as some of the emerging economies, but there is no doubt that US businesses are certainly keeping an eye out for opportunities there.
"There are, however, good reasons for optimism in 2013. Many corporates have strong balance sheets and access to cash. Private equity owners always need to realise investments at certain stages of their life cycle and many are nearing the end of their investment holding period. Many US corporations are increasingly ready to make acquisitions, including European acquisitions, as they benefit from US energy self-sufficiency and lower energy costs."
NOTES TO EDITORS
CMS lawyers immerse themselves in their clients' business. This enables them to deliver the most effective legal and tax solutions. Both leading domestic and major global corporations work with CMS´ 2,800 lawyers across 54 offices in Europe, Russia, China, North Africa and South America. Clients select CMS because it has the most extensive footprint in Europe of any firm. CMS provides local and industry sector insight, global project management and its specialist teams work hard to add value to their projects, wherever they are taking place. Established in 1999, CMS today comprises ten member firms, all experienced in their local jurisdictions. This expertise means that clients receive high-quality advice in the local context. CMS firms posted a combined turnover of EUR 808m in 2011. For more information, please visit www.cmslegal.com.