Case Study #1
An Innovative Advisor for Deals Big and Small
Summary: CoView’s innovative approach facilitated the closing of a complicated transaction
Client: New World Network
Transaction: Columbus Communications, Inc. closed its acquisition of New World Network for an undisclosed amount. New World Network was the owner of ARCOS-1, a $450 million, 8,400 kilometer undersea fiber optic cable connecting the U.S., Central America, South America and the Caribbean.
How CoView Made a Difference: New World Network originally retained a global investment bank to conduct a sale process. No credible buyers were indentified until New World Network received an unsolicited offer from Columbus Communications. The terms of the offer were quite complicated and the transaction appeared to be faltering. CoView was engaged to evaluate the unsolicited offer and provide a fairness opinion, but after reviewing the proposal was able to introduce a modified structure that enhanced shareholder value and was still acceptable to the buyer. The CoView team provided focused attention to the deal and New World utilized the experience of CoView’s senior bankers to reach a favorable outcome.
Case Study #2
Capturing Full Value for a Well-Known Brand
Summary: CoView significantly increased the value of the business over the original bid
Client: Celestron International, Inc.
Transaction: Tasco Holdings closed the acquisition of Celstron International, a leading manufacturer of high-end telescopes. Celestron received an unsolicited acquisition offer from a foreign entity. The parent, Diethelm Holding, immediately engaged CoView Capital to evaluate the offer and determine a course of action.
After extensive analysis, CoView concluded that the suitor’s offer did not reflect the full value of the business. CoView confidentially approached other potential buyers and attracted a number of better offers.
Following extensive negotiations, the business was sold at a premium price to Tasco Holdings.
How CoView Made a Difference: CoView Capital ran an efficient auction process that encouraged potential buyers to increase their bids, greatly improving the value paid for this well-known brand.