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After finishing her first year as an associate at Bass, Berry & Sims, find out what advice Margaret Dodson offers to new attorneys. Read more>

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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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Blueprint for an IPO

Companies go public to raise capital to fuel growth, pay down debt and provide liquidity to shareholders. Although all issuers and offerings are different, the basic process of going public remains relatively constant. Blueprint for an IPO identifies the key players, details the process and identifies the obligations companies will face after going public.

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GovCon Trade Blog: LPTA Out, Fixed Price Contracts In

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December 27, 2016

The National Defense Authorization Act for Fiscal Year 2017 (FY17 NDAA), signed into law by President Obama on December 23, includes limitations on a low price evaluation methodology and a preference for fixed price contracts that could have a significant impact on the way the Department of Defense (DoD) procures goods and services in the coming years. The FY17 NDAA also featured changes to the task order protest jurisdiction, which we outlined in this blog post.

The DoD's use of Lowest Price Technically Acceptable (LPTA) evaluation methodology, which requires award to the lowest-price offeror that meets the minimum requirements, has historically been a source of criticism from industry and government alike, particularly when used for the procurement of complex goods and services. Simply put, the lowest price does not necessarily translate to quality and innovation, and can result in sub-optimal procurement decisions. DoD noted the need for restrictions on the use of LPTA in a memorandum issued in 2015 and the rescission and reissue of the DoD Source Selection Procedures in April 2016. Although DoD policy has been moving towards more limited use of the LPTA evaluation methodology, Sec. 813 of the NDAA now requires a limitation on the use of LPTA be included in the Defense Federal Acquisition Regulation Supplement (DFARS).

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To continue reading the content in this article on the firm's Government Contracts & International Trade blog, please click here to view the post.

Bass, Berry & Sims' Government Contracts & International Trade blog features news, commentary and insight on the demanding and ever-changing regulatory environment of contracting with federal, state and local governments, and international trade issues when conducting a global business.


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