Griffon Corporation to Acquire ClosetMaid

Dechert LLP is advising Griffon Corporation in connection with its acquisition of ClosetMaid Corporation, a market leader of home storage and organization products, from Emerson Electric Co. Griffon announced on September 5 that a definitive agreement had been entered into regarding the acquisition. Under the terms of the definitive agreement, Griffon will pay Emerson a purchase price of $260 million, which, after taking into account tax benefits resulting from the acquisition, results in an effective purchase price of $225 million. The acquisition is subject to customary closing conditions and is expected to close by the end of September 2017.

The Dechert team advising Griffon included corporate partners Martin Nussbaum, Gareth Clark and Lucy Lu, and corporate associates Matt Virag, Shannon Cleary, Tim Grosso, and Sarah Teh; tax partner Steve Clemens; employee benefits partner Stephen Skonieczny, and employee benefits associates Sarah Burke and Aryeh Zuber; environmental partner Abbi Cohen; corporate finance partners Richard Goldberg and Jeff Katz, and corporate finance associates Michael Rosenberg, Nitzan Weizmann and Reeba Muthalaly; IP counsel Violetta Kokolus, and IP associate Alan Wang; labor associate Jeff Rubin; antitrust partner James Fishkin, and antitrust associates Beverly Ang and Blair Kuykendall; real estate counsel Francois Quintard-Morenas; litigation partner Neil Steiner; and international trade partner Jeremy Zucker, and international trade associate Darshak Dholakia.

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