This article analyzes the legal risks and potential consequences of private equity firms collaborating with one another to create consortiums or so-called "clubs" to jointly bid for acquisition of a publicly listed target company. These kind of transactions are more commonly referred to as "club deals" in the mergers and acquisitions world. From 2003 through 2007 club deals became a staple of the leveraged-buyout (LBO) industry. With the rise of clubs, many large-cap companies came within the reach of...

Read more

At the beginning of July the Organization for Economic Cooperation and Development (OECD) published its individual country report on Austria (“Economic Survey Austria 2013“) which generally appears every two years.   The report attests that the Austrian economy continues to show remarkable economic performances whereas at the same time a high level of social cooperation remains. This strength is based on three cornerstones: A successful competitive export-oriented economy with companies who have understood how to exploit the advantages of European integration...

Read more