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Upping the Ante: PBGC Initiates Pension Plan Termination in Leveraged Acquisition
Debevoise & Plimpton LLP Link to more items from this source
June 2, 2013
"In April, the PBGC initiated proceedings to terminate a pension plan in connection with Compagnie de Saint-Gobain's sale of its US metal and glass containers business to Ardagh Group. Initiation of a plan termination is typically viewed as an attempt to scuttle a transaction ... [T]he PBGC has announced that it intends to become more aggressive in future LBO transactions and to allocate more of its resources in this area."

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