Joel Greenberg Quoted in Reuters on Canada Supreme Court Decision Allowing World's Largest Leveraged Buyout
Joel Greenberg, Co-Chair of the Corporate & Finance Department, was quoted in a June 20 Reuters article, "Canada Supreme Court Backs BCE in Buyout Case," which discusses the recent unanimous decision by the Supreme Court of Canada allowing Canada's biggest telecom company, BCE, Inc., to go forward with the world's largest leveraged buyout. "I thought the (Quebec) Court of Appeal decision was very, very troubling. And so it's good to hear that it has been reversed by the Supreme Court," Mr. Greenberg said. "It doesn't have a large impact on Wall Street. The BCE deal is proceeding under a structure that we simply do not have in this country. But on the other hand, the court of appeal decision, depending on how it would have been construed, had the potential to have a very serious impact on acquisition activity in Canada." Mr. Greenberg added, "They have very little time. They have to get the transaction done by June 30 or either party can just walk freely."