Counter Cyclical?

Holman, Kelly
January 2010
Mergers & Acquisitions Report;1/11/2010, Vol. 23 Issue 2, p2
The article focuses on the increasing use of fairness opinions in out-of-court debt restructurings, partly attributed to the slight improvement in credit markets. A fairness opinion has been issued by Barclays Capital to the special committee advising retailer Talbots Inc. on its recapitalization. Based on a Duff & Phelps survey, two of the most vital criteria in choosing a fairness opinion provider are independence and objectivity. It notes the relevance of fairness opinions in private-equity-sponsored transactions.


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