Entries tagged "Bankers Trust"
We liked Steve Davidoff's DealBook post on the MidAmerican Energy Holdings Co.-Constellation Energy Group Inc. merger agreement. As one would expect given that Constellation was on the verge of bankruptcy when it agreed to sell, the agreement reads like one drafted by a buyer with no seller mark-ups. Constellation didn't have time to mark up. It announced the deal last Thursday, a day before it signed the agreement. That is desperation. But MidAmerican was also able to get such favorable terms because Baltimore-based Constellation is incorporated in Maryland, and Maryland law allows target company management to do almost anything...
