Benjamin M. Grossman

Partner at Jones Day

Benjamin M. Grossman

Benjamin M. Grossman

Partner at Jones Day

Biography

Benjamin M. Grossman (Ben)
Associate

Contact
bgrossman@jonesday.com
New York
(T) +1.212.326.3760
(F) +1.212.755.7306
Education

New York University (J.D. 2006; Executive Article Editor, Annual Survey of American Law); Harvard University (B.A. in Applied Mathematics cum laude 2003)

Bar Admissions

New York

Ben Grossman's practice focuses on mergers and acquisitions for public and private companies and transactions involving distressed and bankrupt targets and sellers.

Ben's recent experience includes ACI Worldwide's acquisition of S1, Procter & Gamble's sale of its Pringles business, and Reynolds American's sale of Lane, Limited.

He also has worked on substantial matters for clients such as ABB, American Greetings, Aurora Resurgence Capital Partners, Dana Corporation, NACCO Industries, OMI, Verint Systems, Wasserstein & Co., and WL Ross & Co.

Ben has authored and coauthored several publications on M&A and corporate governance matters, including most recently an article on proxy access for The Daily Deal.

Experience

ACI Worldwide strengthens leadership in online banking and payments by acquiring Online Resources for $263 million
Jones Day advised ACI Worldwide, Inc., a leading provider of payment systems, in its acquisition and related financing of Online Resources, a leading provider of online banking and full-service bill pay solutions, in an all cash transaction for $263 million.

P&G divests bleach and cleaning products business in Western Europe to Fater
Jones Day advised The Procter & Gamble Company in the divestiture of its bleach products business, and a portion of its hard surface cleaning products business, in Western Europe to Fater S.p.A., a joint venture of Tenimenti Angelini Sp.A. and P&G.

Wasserstein & Co. completes sale of The Deal to TheStreet
Jones Day represented Wasserstein & Co., L.P. in connection with its sale of The Deal, L.L.C., a news service covering mergers and acquisitions, to TheStreet, Inc., a publicly traded investment news and data service.

Hawkwood Energy formed to focus on upstream oil and gas development in U.S.
Jones Day represented Hawkwood Energy LLC, an independent oil and gas exploration and development company.

Procter & Gamble divests its Pringles snacks business to The Kellogg Company for $2.7 billion
Jones Day advised The Procter & Gamble Company in the divestiture of its Pringles snacks business to The Kellogg Company in a $2.7 billion all-cash transaction.

ACI Worldwide acquires S1 for $520 million
Jones Day advised ACI Worldwide, Inc. ("ACI") in connection with its agreement to acquire S1 Corporation ("S1") for approximately $520 million.

Georgia Gulf successfully defends against unsolicited proposal from Westlake Chemical
Jones Day advised Georgia Gulf Corporation in the successful defense against a $1.6 billion unsolicited bid by Westlake Chemical Corporation to acquire all the outstanding shares of the company.

Reynolds American sells Lane, Limited to Scandinavian Tobacco Group A/S (STG) for $205 million
Jones Day is advising Reynolds American, Inc. in its $205 million sale of Lane, Limited to Scandinavian Tobacco Group A/S (STG), a global company based in Denmark.

Potash Corporation of Saskatchewan successfully defends historic $43.1 billion hostile takeover bid
Following an arduous three-month battle, Jones Day's client, Potash Corporation of Saskatchewan Inc., successfully repelled BHP Billiton's hostile $43.1 billion tender offer for all of PotashCorp's shares in November 2010.

Penton Media confirms prepackaged chapter 11 plan and obtains new equity investment
Jones Day advised Penton Business Media Holdings, Inc. in its pre-packaged bankruptcy.

WL Ross makes strategic investment in Greenbrier
Jones Day advised WL Ross & Co. LLC in its strategic investment in The Greenbrier Companies, a leading international supplier of transportation equipment and services to the railroad industry.

American Greetings buys Recycled Paper Greetings for $152.4 million
Jones Day advised American Greetings Corporation in its $152.4 million acquisition of Recycled Paper Greetings, Inc.

ABB acquires Kuhlman Electric from The Carlyle Group
Jones Day advised ABB Ltd. in its acquisition of Kuhlman Electric Corporation from the Carlyle Group to expand its power products portfolio in the Americas.

Procter & Gamble acquires Frederic Fekkai & Co.
Jones Day counseled The Procter & Gamble Company, a manufacturer of a wide range of consumer goods, in connection with its acquisition of Frederic Fekkai & Co., a provider of high-end hair care products and salons, from Catterton Partners.

Golden Telecom is acquired by VimpelCom in a $4.3 billion tender offer
Jones Day advised Altimo Holdings & Investments Limited, a significant indirect shareholder in Golden Telecom, Inc. ("Golden Telecom") and OJSC "Vimpel-Communications" ("VimpelCom"), in connection with the $4.3 billion tender offer by a subsidiary of VimpelCom for 100% of the shares of Golden Telecom.

Dana Corporation issues stock to Centerbridge Capital Partners
Jones Day advised Dana Corporation, a supplier of axle, driveshaft, structural, sealing and thermal products for global vehicle manufacturers, in the $750 million investment by Centerbridge Capital Partners, L.P.

OMI acquired by Teekay and TORM for $2.2 billion
Jones Day advised OMI Corporation in its $2.2 billion acquisition by Teekay Shipping Corporation and A/S Dampskibsselskabet TORM.

Verint Systems acquires Witness Systems for $950 million
Jones Day advised Verint Systems Inc. in its $950 million acquisition of Witness Systems, Inc.

NACCO makes $325 unsolicited tender offer for Applica
Jones Day advised NACCO Industries, Inc. in its $325.5 million unsolicited tender offer for Applica Incorporated.

JPMorgan Chase participates in sale-leaseback of 33 properties
Jones Day represented JPMorgan Chase Bank and its affiliates in connection with the sale of a portfolio of 33 commercial properties containing approximately 5.3 million square feet of space.

Publications

April 2013
Proposed Amendment to Section 251 of the DGCL: Rendering Top-Up Options Obsolete and Increasing the Appeal of Tender Offers PDF

January 2013
Don't Ask, Don't Waive Standstill Provisions: A Tool to Maximize Value or Willful Blindness? PDF

March 20, 2012
The Efficient Market Hypothesis under Delaware Law, Corporate and M&A Law - Directors & Officers, Bloomberg Law Reports © Bloomberg Finance L.P. 2012. Originally published by Bloomberg Finance L.P. Reprinted with permission. - PDF Only PDF

November 2010
Stock-for-Stock Exchange Offers in the United States: Underutilized Infrastructure, MARR

October 5, 2010
Compensation Metrics That Make Sense, The Deal Magazine

May 25, 2010
Proxy Access — Bad Policy Based on Bad Assumptions, The Deal Magazine

March 9, 2010
Another View: Vice Chancellor Strine Gets It Right, The New York Times
(Link to New York Times)

December 7, 2009
A Call to Dealmakers, The Deal Magazine

November 2, 2009
Waiver of the Corporate Opportunity Doctrine, Bloomberg Law Reports, Vol. 3, No. 29 © Bloomberg Finance L.P. 2009. Originally published by Bloomberg Finance L.P. Reprinted with permission. - PDF Only PDF

August 11, 2009
Another View: Rethinking Reverse Break-Up Fees, The New York Times (Link to New York Times)

July 16, 2009
Delaware Court Reaffirms Business Judgment Rule, New York Law Journal

Overview
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Partner at Jones Day

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Chair, Mergers & Acquisitions Practice at Jones Day

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Partner at Jones Day

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Partner at Jones Day

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Executive Officer at Eagletree Partners IV LP

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Co-Chair, Employee Benefits & Executive Compensation Practice Group at Jones Day

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Partner at Jones Day

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Partner at Jones Day

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Partner at Jones Day

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Associate at Jones Day

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Career History
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Jones Day LP provides legal services. The company's practice areas include banking and finance, capital markets, mergers & acquisitions, real estate, government regulations, tax, financial institutions litigation and regulation, business restructuring, and private equity. It offers services to the airlines, aviation, automotive, construction, energy, healthcare, insurance, media, pharmaceuticals and telecommunication industries. Jones Day was founded in March 1893 by Edwin J. Blandin and William Lowe Rice and is headquartered in Cleveland, Ohio.

Transactions
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Paul Hartmann AG purchases Procter & Gamble Co. /Lindor Brand from Procter & Gamble Co.

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Informa Plc purchases Penton Business Media, Inc. from Eagletree Capital LP, MidOcean Partners, Lexington Partners LP

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Eagletree Capital LP, Northstar Travel Media LLC, Sterling Valley Systems, Inc. purchase Ryan Solutions LLC

Other Affiliations

Benjamin M. Grossman is affiliated with Jones Day

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