Investment Giant Keeps Upper Hand in the Downturn

May 18, 2020 – Media Mention
The Real Deal

Morris DeFeo, chair of Herrick's Corporate Department, was interviewed by The Real Deal regarding a potential proposal to halt mergers and acquisitions during the coronavirus pandemic.  In response to arguments that private equity, real estate funds and private lenders are "vultures swooping in to profit from economic suffering,” DeFeo noted, “[t]he people who work in these businesses — shops and stores — they are the ones who get left behind. The truth is that we don’t live in a single country. It’s divided, substantially, and no more so than when it comes to money.”  DeFeo then added that “[t]here are people who are well-intentioned who want to see that kind of division collapse . . . There are legitimate arguments for how to fix it, but you don’t fix it by eliminating mergers and acquisitions.”