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IMPORT/EXPORT THE COMPANY Privately held $ 15 Million Manufacturer and Importer of Christmas Decorations and Gifts. THE SITUATION Eighteen months after two separate groups of family owned businesses (8 corporate entities) had merged and partially integrated their operations, growing mistrust amongst former owners led to a desire to undo the merger. Additionally, a suitor appeared seeking to acquire one of the former groups at a value dependent upon its net worth after reversal of the merger. ACTION Amid charges and counter charges by former independent owners, uneasiness of lenders, heavy losses at certain plants, pressure from the suitor and questionable accounting practices: devised and negotiated plan for reversing the merger and recapitalizing the companies. Assisted in negotiations for sale to suitor. RESULTS The eight original entities were restructured to the satisfaction of all parties without litigation; lenders agreed to continue to separately finance both groups; assignment was completed in time to conclude the sale of one of the remaining groups as planned.
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