Distressed Mergers and Acquisitions

Credit market volatility has forced many companies into financial crisis and savvy buyers are examining opportunities to purchase businesses at bargain prices. However, these new investment opportunities present significant legal and business considerations and risks for the buyer.

Winston & Strawn has the knowledge and experience to help financial sponsors and strategic buyers identify and evaluate a broad scope of distressed opportunities. Our team brings together leading finance and private equity attorneys and the resources of a full-service restructuring group to help evaluate risk and analyze strategic bid alternatives, including rescue financing, distressed debt acquisitions, UCC foreclosure proceedings, loan-to-own strategies, Section 363 transactions, and consensual turnarounds.

We provide strategic advice and legal counsel on a wide array of transactions including:

• “Loan-to-own” strategies
• “Stalking horse” bids
• Trade claim acquisitions
• Rescue financing
• Pre-packaged and pre-negotiated bankruptcies
• Restructurings
• Workouts

Our attorneys regularly advise clients on the purchase of assets from debtors and guide them through the entire transaction process—from due diligence to closing. We have a thorough understanding of the risks involved in purchasing distressed assets and protection available to our clients. We are accustomed to working in the environment of a distressed sale where the competition is intense and creativity is rewarded.