Delaware Supreme Court rejects appeal and clears the way for sale of TransPerfect to co-founder and co-CEO Phil Shawe. Transaction expected to close on May 7, 2018. Continue reading
Robert Pincus
The Delaware court has approved the sale of TransPerfect shares to Phil Shawe and ruled that Liz Elting’s objections are without merit. Shawe will pay USD 770m, over 10 times EBITDA. Elting to receive USD 287m in after-tax net proceeds. Continue reading
TransPerfect co-CEO Liz Elting is pushing the Delaware court to reject the sale of her shares to her co-founder Phil Shawe, claiming the custodian’s abuse of discretion and Shawe’s misconduct. Custodian’s lawyer cites five factors that merit the sale to Shawe. Continue reading
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TransPerfect’s Technology division loses more key executives as the wave of resignations by senior executives expands to London and the VP of Asia-Pacific. Continue reading
Chief Technology Officer, Chief Information Officer, and a senior executive of TransPerfect’s Technology group resign, citing frustration with uncertainty created by sale process. Continue reading
After the custodian in charge of selling TransPerfect threatens to exclude Co-CEO Phil Shawe from the sales process, Shawe sues in Federal Court. Translation productivity tool Wordfast emerges as major potential obstacle to sale. Continue reading
TransPerfect co-founder Liz Elting reiterates her intention to bid for the company should it go to auction and says the language service provider would have a bright future even if neither of the two co-founders emerges as part of the winning bid. Continue reading
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