Examples of Regency Conflicts Committee in a sentence
Earnings per share serves as an indicator of an company’s profitability.In this graphical presentation of figure 3.6 we can see that in 2013 shareholder earn a great, then from 2014 to 2017 also earn a satisfactory amount, so overall earnings per share is good.
If Regency fails to elect to purchase the Competing Business within fifteen (15) days of the receipt of such terms from the investment banking firm, (i) Regency will be deemed to have elected, with the approval of the Regency Conflicts Committee, not to purchase the Competing business, (ii) the fees of the investment banking firm will be paid solely by Regency and (iii) Contributor or Contributor’s Affiliates, as applicable, shall be forever free to continue to own or operate such Competing Business.
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On January 16, 2015, the Regency Board determined that any transaction between ETP and Regency would be subject to the approval of the Regency Conflicts Committee, and it determined that it would delegate authority to the Conflicts Committee to review and analyze the proposed transaction.
Pursuant to the definition of “conflicts committee,” no member of such a committee can be an “officer[], director[], or employee[] of any Affiliate of General Partner.” Therefore, no person who was a director of Sunoco could serve on the Regency Conflicts Committee for the purpose of reviewing and approving the Merger.
The formal resolution delegating authority to the Regency Conflicts Committee was adopted by the Regency Board on January 22, 2015.
During that time, the Regency Conflicts Committee made a halfhearted and perfunctory counter to ETP’s meager opening offer and requested an exchange ratio of 0.425, plus a cash payment equal to the expected difference between ETP’s quarterly distributions and Regency’s quarterly distributions for the two-year period following the closing of the Merger.
They also discussed various matters pertaining to their duties and responsibilities as members of the Regency Conflicts Committee, as well as their purported independence.
On January 16, 2015, a representative of the Regency Board contacted a representative of JP Morgan about potentially serving as financial advisor to the Regency Conflicts Committee.
ETP made a counteroffer with a proposed exchange ratio of 0.4066 and a cash payment of $0.32 per common unit of Regency, which would be necessary to reach the small 15% premium that the Regency Conflicts Committee had set as a goal.