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Mergers & Acquisitions 2010

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RankingHighly commended
InnovationPilot buying Flying J out of bankruptcy
Originality6
Rationale7
Impact6
Total19
DescriptionConsolidation at the top of the US truck-stop business required an arsenal of solutions from the firm. Regulatory resistance to Pilot, the number-one company in the sector, acquiring Flying J, its main competitor, out of bankruptcy was complicated by an existing joint venture with ConocoPhillips, the energy group, competing interest from private equity buyers and political manoeuvring by competitors