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Cox Padmore Skolnik & Shakarchy LLP remains ready to serve you during the COVID-19 pandemic. We are prepared to provide you with continuous legal service and uninterrupted communication. We are also monitoring the legal impact of COVID-19 and we are available to discuss any questions you may have regarding the CARES Act, insurance coverage issues, including business Interruption insurance, or other issues. Please see below for a list of our practice areas. You may contact us by the usual means of telephone and email, which is encouraged at this time. We will promptly respond. Video conferencing is also available. In all, our firm remains committed to assisting you throughout this evolving period of legal, business, and safety concerns.

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  4.  | The complex world of business auctions

The complex world of business auctions

| Jul 21, 2016 | Mergers & Acquisitions

For owners of a lagging business in New York, selling off certain aspects of a commercial enterprise can be imperative to ensure that success remains in sight for any remaining facets. However, this sales process can be exceedingly complex, especially when numerous parties are involved in making a bid.

After a largely unsuccessful period, internet giant Yahoo is nearing the close of a protracted auction intended to release a few of the company’s fundamental components, real estate and intellectual property. However, in addition to these benefits, there are some components that bidders must consider. One of these components is connected to any layoffs that may be issued, since a number of existing workers are in line for hefty payouts.

A previously arranged deal with Mozilla is another element potential buyers must evaluate. If Mozilla makes claims that it has been negatively impacted by the change in leadership, the new owner may be forced to pay $1 billion to Mozilla. This is due to a contract stipulation that if Yahoo was sold, Mozilla had the right to collect the remaining balance owed by Yahoo. Bids for the Yahoo operations have come from private equity firms, AT&T, and Verizon.

Businesses often face many legal challenges when involved in mergers and acquisitions. To this end, securing the services of an experienced attorney is crucial for navigating the often complicated process. That way business owners will be privy to information related to their specific circumstances, which can be a vital component for devising a sound legal strategy going forward.

Source: The New York Times, “Yahoo Is Said to Collect Final Bids as Auction Nears Its End,” Vindu Goel and Michael J. de la Merced, July 14, 2016

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