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O’Melveny’s Scrivano Quoted in Law360 on One-Step MergersAugust 29, 2013
O’Melveny & Myers partner Paul Scrivano was quoted in an August 27, 2013, Law360 article, titled “Is The One-Step Merger Dead?” The piece surveys the future of the one-step merger, as the tender offer becomes an increasingly popular means of acquisition. According to the report, a new law in Delaware “allows buyers using a tender offer to zoom directly to closing once they have 50.1 percent of shares,” making this method a more attractive option for many purchasers. Yet, Scrivano cites some ambiguity in the Delaware 251(h) rule, suggesting that “[r]eports of the one-step's death have been greatly exaggerated.”
Scrivano is co-head of O’Melveny’s Mergers and Acquisitions Practice in the US. He divides his time between the Firm’s New York, San Francisco, and Silicon Valley offices.