KirklandPEN Kirkland & Ellis LLP

Private Equity Newsletter – February 19, 2010

This issue includes the article “Break-Up Fee Denied for Stalking-Horse Bidder in Bankruptcy Asset Sale,” which reveals how a federal appeals court recently upheld the denial of a break-up fee for a stalking-horse bidder whose bid was not conditioned on court approval of the break-up fee, illustrating the importance of carefully structured bids and purchase documentation.