Benefits Integration Issues in Multibillion-Dollar Acquisition

Seyfarth serves as outside legal counsel to a large manufacturing company on executive compensation and employee benefits matters, including all matters related to the company’s ERISA-covered employee benefit plans. In August 2022, our client entered into a definitive agreement with another manufacturer to acquire the global assets related to a distinct line of business in an all-cash transaction for $3 billion. Seyfarth assisted with all aspects of the benefits integration issues related to this acquisition, including establishment and conversion of retirement benefits, profit-sharing, health and welfare, and absence management.