Paul Hastings Advises RSM EquiCo in Providing Fairness Opinion for Textile Merger
New York, NY (September 1, 2006) - Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, has advised RSM EquiCo Capital Markets LLC, an investment banking firm, in providing a fairness opinion to the Special Committee of the Board of Directors of Safety Components International, Inc., in connection with its merger with International Textile Group, Inc. The transaction, which is expected to close late this year, is valued at approximately $170 million.
Under the merger agreement, International Textile Group Inc., a subsidiary of private equity firm, W. L. Ross & Co. LLC, will merge with Safety Components International, Inc., an automobile airbag fabric and cushion maker, in a stock-for-stock deal.
The Paul Hastings team, led by New York partner Charles Baker, also included associate Kelly Hodges.
About RSM EquiCo Capital Markets LLC: RSM EquiCo Capital Markets LLC is a leading global investment banking firm, specializing in mergers and acquisitions, divestitures and corporate finance for the private middle market.
About Paul Hastings Corporate Department: Teams of Paul Hastings' corporate attorneys provide clients with the sophisticated, cross-border legal and business expertise they need to finance and operate companies. The firm's Securities and Capital Markets, M&A, Lending, Project Finance, Private Equity, Investment Management and Securitization practices are nationally and internationally ranked. Paul Hastings' attorneys are experienced in every aspect of modern transactional practice in virtually every industry and service sector. Clients include major financial institutions, domestic, international, public and private companies.
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