Employment-Law Advice in a Significant Cross-Border M&A Transaction
2021.09.30.
Synopsys Inc., a global leader in electronic design automation and semiconductor IP, acquired a Korean semiconductor and flat panel display solutions company, BISTel. Due to Yulchon’s longstanding relationship with Synopsys for labor and employment matters, Yulchon was retained to advise on the employment and workforce-integration aspects of the transaction.
Due to the transaction structure and Korea’s highly employee-friendly legal regime, the transaction involved complexities and pitfalls that needed to be anticipated and addressed prudently, particularly with respect to workforce integration. Yulchon advised and assisted Synopsys and their corporate counsel on HR-due diligence, negotiating employment and labor provisions in the purchase agreement, and the process for aligning terms and conditions including benefit plans with respect to the acquired workforce.
The deal successfully closed in September 2021, and since then Yulchon has continued to advise on post-closing employment issues.
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