Funding Vulcan by selling 49% of ULA to a leveraged ESOP
Funding Vulcan by selling 49% of ULA to a leveraged ESOP
How much is ULA worth? you could sell 49% of the company to a leveraged ESOP and use the cash to fund Vulcan.ESOP’s being tax-free since they are pension funds under ERISA would mean that 49% of cash flow owed to the ESOP would be tax-free income to ULA.Or if Boeing and Lockheed martin want out then all of ULA could be sold to an ESOP in which case the entire company would be tax-free
http://www.esopassociation.org/explore/how-esops-work/learn-about-esops/leveraged
http://www.delashmitlawgroup.com/?page_id=32
ESOPS do mean filing a lot of public information with the IRS (ERISA) and the SEC Private companies can have ESOPS but are no longer private and a member of a ESOP can fill a shareholder lawsuit if management makes a bad call.
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