Resources
Experience

Government Relations: Preserving Legal Right of Private Company to Acquire a Maine Company

Some transactions go smoothly. But when they don’t, Verrill is ready. The proposed acquisition of a publicly traded company in Maine by large multinational corporation was just such a transaction.

For months, the multinational corporation and its legal team had worked to prepare the necessary tender offer materials and other SEC filings in support of the proposed acquisition. But at 5PM during one evening in April, everything changed. Verrill’s business law group received word from the firm’s government relations team that emergency legislation had been filed by the Governor, with support from Legislative leadership, that would scuttle the transaction -- if passed. The bill had already been scheduled for hearing the following morning, with no advance notice. So we swung into action immediately.

Working all night, our team formulated a strategy for the public hearing, and in the morning, we implemented an all-out government relations strategy to slow down the legislative process and give our client more time to tell their story – and complete the transaction. The strategy worked, and by a narrow vote in the Maine House that night, the bill failed to get the necessary votes to pass. But our work was not over.

For the next two weeks, working closely with the client, elected officials, and media consultants, Verrill helped the client continue forward with the proxy battle and grow support within the Legislature to reject the proposed bill. The work was not easy because there was strong emotional support within the local community to prevent the transaction. But we were able to make headway by illustrating that political interference with private business transactions would hurt Maine’s business climate in the long run, and should be discouraged.

Finally, in May, after weeks of intense work and substantial media coverage, the Legislature took a final vote on the bill. By a single vote in the Senate, our argument won the day, and the bill failed. With the failure of the bill, the transaction was able to move forward to completion with the support of the shareholders. Crisis averted.

Firm Highlights

Matter

Recovery From Surety and Professional Liability Carrier for Defective Turbine and Biomass Energy Facility Components

Our client developed a biomass fired cogeneration power facility to sell power back to the grid and to support its sawmill operations. As part of this project, it entered into a $13+ million contract...

Blog

DOL Signals Heightened Enforcement of Non-Quantitative Treatment Limitation Requirements

Introduction . When the U.S. Department of Labor issued its biennial 2022 Mental Health Parity and Addiction Equity Act (“MHPAEA”) Report to Congress earlier this year, it outlined significant noncompliance by health plans. (Full...

News

Verrill Appoints Karen Hartford as Firm’s New Diversity & Inclusion Committee Chair

Publication/Podcast

Connecticut’s new privacy law: What you need to know

As part of its growing privacy practice, Verrill is pleased to share this advisory on Connecticut’s new privacy law. Verrill is pleased to offer a sophisticated range of privacy and cybersecurity services. On May...

News

Two Verrill Attorneys Appointed to the Connecticut Bar Association’s Pandemic Recovery and the Future of Court Technology Task Force

Blog

Supreme Leak: NLRA Rights

For blog followers, you likely saw last week’s post reminding you to revisit your confidentiality policies in the wake of the leaking of the Supreme Court’s draft opinion in Dobbs v. Jackson Women’s Health...

Matter

Procurement

We have assisted many owners, and contractors in design and construction contracting including: Massachusetts Institute of Technology Investment Management Company on over a billion dollars in projects in Kendall Square area of Cambridge, Massachusetts...

Publication/Podcast

New Rules for Apprentices on Energy Projects Come with Uncertainty for Contractors and Developers

On January 1, 2021, a new law went into effect setting benchmarks for use of apprentices on energy generation facility construction projects. Enacted in 2019, the law was part of “An Act to Establish...

Blog

Supreme Leak: Religion at Work

Over the last year, our society has navigated COVID-19 and rules concerning vaccination and masking. As a society and on this blog, we have discussed regularly the role religious freedoms play in the work...

Publication/Podcast

Massachusetts Employers Beware: Any Late Wage Payment Means Liability for Triple Damages

Last month, in Reuter v. City of Methuen , the Massachusetts Supreme Judicial Court held that any late payment of wages by an employer results in strict liability for treble damages under the Wage...

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