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Acquisition of Telecommunications Company Based in the Midwest

Represented a telecommunications company in connection with the acquisition of 100% of the stock of a national telecommunications company based in Michigan, by a new, wholly-owned acquisition subsidiary. The selling shareholders and the buyer entity agreed to file a Section 338(h)(10) election to treat the transaction as an asset sale for tax purposes, providing the buyer with a step up in basis and creating potentially more value to a subsequent asset buyer in the future.  In addition to negotiating and preparing the stock purchase agreement and related ancillary documents, and reviewing the target company’s due diligence materials, our team also negotiated employment and non-compete agreements for the target company’s principal shareholders, who will remain with the company under its new ownership.

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