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Attorney Spotlight

Find out how Gardner Bell's experience promoting financial and economic development initiatives both locally and abroad informs his role as an attorney. Find out more>

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Experience Spotlight

On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Thought Leadership

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Thought Leadership Spotlight

Securities Law Exchange BlogSecurities Law Exchange blog offers insight on the latest legal and regulatory developments affecting publicly traded companies. It focuses on a wide variety of topics including regulation and reporting updates, public company advisory topics, IPO readiness and exchange updates including IPO announcements, M&A trends and deal news.

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Todd Overman Comments on Government Contractor Spinoffs

Media Mentions

December 28, 2015

Bass, Berry & Sims attorney Todd Overman was quoted in the Washington Business Journal on the risks for government services companies acquiring businesses that are being spun off from larger companies. The U.S Government Accountability Office is reviewing contract awards to spinoffs that leverage the capabilities of their former parent companies in order to win contracts, exposing spun off companies to increased risk of bid protests from competitors. As Todd points out in the article, "If an offeror is pointing at things its parent has in order to meet aspects of a contract and those go away, that's where protestors are saying, 'Hey look, they're not responsible, they don't have what it is they told you they were going to have." Todd further suggests that recent cases could fuel even more protests in 2016 as larger companies increasingly look to spinoff subsidiaries or divisions with bids that might rely on capabilities of the parent organizations.

The full article, "Buyer Beware: Government Services Spinoffs Present Protest Risk to Buyers," was published in the Washington Business Journal on December 28, 2015 and is available online or PDF download.


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