M & N Machinery Co. manufactures large metal stamping presses, in turn used by manufacturers of appliances, motor vehicles, and so on.
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Get it written →M & N Machinery Co. manufactures large metal stamping presses, in turn used by manufacturers of appliances, motor vehicles, and so on. From time to time, these presses cause serious injuries to persons who operate them. There is no statute of repose. Suits are brought by workers who have been injured by presses M & N manufactured 20 and 25 years ago.
Cincinnati Milling and Machine, Inc. (“CMM”) wishes to acquire M & N, which holds a number of valuable patents and some very modern physical facilities that CMM would like to own. One item on CMM’s priority list right now, though, is preservation of cash. Another is avoidance, if it can, of succession to M & N’s products liability exposure.
What deal structure might accomplish CMM’s objectives?
Statutory merger.
Cash for assets.
Stock for assets.
Stock tender offer.
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