Candace A.Ridgway (Candy)

Partner

Washington + 1.202.879.3633

Candy Ridgway's practice encompasses corporate and general business tax law, with extensive experience in advising on the most tax-efficient structures for corporate transactions, including bankruptcy reorganizations and other restructuring transactions by distressed businesses.

Representative transactional clients include ACI, Axiall Corporation (formerly Georgia Gulf), Chrysler, Dana Corporation, Hostess, Hunt Petroleum, International Steel Group, J.F. Lehman, Kaiser Aluminum, and Nationwide Insurance. She has dealt with the IRS National Office, Appeals, and Treasury in connection with a wide range of transactional matters involving tax rulings and controversies. Candy has represented companies such as Dow Corning, Federated Department Stores, General Motors, Nationwide Mutual Insurance Company, and Reliance Electric in IRS appeals and litigation.

Candy has spoken and written extensively on corporate transactional tax issues, particularly relating to spin-offs and distressed business workouts. She is the author of two Tax Management Portfolios, Corporate Separations and Corporate Acquisitions — D Reorganizations and is a coauthor of the two portfolios on Corporate Bankruptcy. In addition, she has authored a number of Tax Management Memoranda and other articles on spin-offs and corporate reorganization and bankruptcy issues. She has taught "Tax Planning for Corporate Acquisitions and Dispositions" as an adjunct professor at Georgetown University Law Center in the master of laws in taxation program.

Experience

  • Kaiser Aluminum completes $500 million Senior Notes offeringJones Day represented Kaiser Aluminum Corporation, a leading North American manufacturer of semi-fabricated specialty aluminum mill products, in connection with the Rule 144A and Regulation S offering of $500 million aggregate principal amount of 4.625% Senior Notes due 2028.
  • Trafigura acquires majority stake in Nyrstar operating businessJones Day advised Trafigura Group Pte. Ltd. (“Trafigura”), a market leader in the global commodities industry, in connection with its acquisition of a majority stake in the operating business of Nyrstar, a multi-billion dollar global metals business.
  • Supplier of automotive components and systems amends and extends existing asset-based global revolving credit facilityJones Day represented a leading global supplier of automotive components and systems in connection with the amendment and extension of its existing asset-based global revolving credit facility, including a Canadian revolving credit subfacility and European receivables securitization.
  • Exide Technologies completes $1.1 billion comprehensive new financing and recapitalizationJones Day represented Exide Technologies, a global leader in stored energy solutions for the automotive and industrial markets, in connection with a comprehensive new financing and recapitalization transaction.
  • Milliken & Company acquires PolartecJones Day advised Milliken & Company in its acquisition of Polartec, a strong global brand known for its innovative performance textiles for outdoor and military apparel, from Versa Capital Management, LLC.
  • Milliken & Company acquires Andover Healthcare, Inc. and Andover Resources, Inc.Jones Day advised Milliken & Company, an industrial manufacturer that is active in a breadth of disciplines, including specialty chemical, floor covering, performance and protective textile materials, in connection with the acquisition of Andover Healthcare, Inc. and Andover Resources, Inc., leading manufacturers of cohesive bandages and tapes for healthcare, animal health, and sports medicine industries.
  • Pennsylvania Electric Company completes $300 million private placement of Senior NotesJones Day represented Pennsylvania Electric Company, an electric distribution utility subsidiary of FirstEnergy Corp., a diversified energy holding company, in its private placement of $300 million of Senior Notes.
  • USG acquired by Gebr. Knauf for $7 billionJones Day advised USG Corporation in the acquisition by Gebr. Knauf KG ("Knauf") of all of the outstanding shares of USG in a transaction valued at $7 billion.
  • FirstEnergy Transmission completes $500 million private placement of Senior NotesJones Day represented FirstEnergy Transmission, LLC, a holding company of electric transmission subsidiaries of FirstEnergy Corp., a diversified energy holding company, in connection with its private placement of $500 million of Senior Notes.
  • Deutsche Bank, Merrill Lynch, Citigroup, and Credit Suisse, as representatives of the underwriters, complete $300 million bond offering by KB HomeJones Day represented Deutsche Bank Securities Inc.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Citigroup Global Markets Inc.; and Credit Suisse Securities (USA) LLC, as representatives of the several underwriters, in connection with the public offering by KB Home, one of the nation’s largest homebuilders, of $300 million aggregate principal amount of 6.875% Senior Notes due 2027 and an additional $100 aggregate principal amount of its existing series of 7.625% Senior Notes due 2023.
  • FirstEnergy subsidiary completes $400 million private placement of Senior NotesJones Day represented Jersey Central Power & Light Company, an electric transmission and distribution subsidiary of FirstEnergy Corp., a diversified energy holding company, in connection with its private placement of $400 million of Senior Notes.
  • FirstEnergy subsidiary completes $500 million private placement of Senior NotesJones Day represented Metropolitan Edison Company, an electric distribution utility subsidiary of FirstEnergy Corp., a diversified energy holding company, in connection with its private placement of $500 million of Senior Notes.
  • Gray Television acquires Raycom Media for $3.6 billionJones Day advised Gray Television, Inc., a television broadcast company headquartered in Atlanta, Georgia, in connection with its acquisition of privately-owned Raycom Media, Inc., a Montgomery, Alabama-based television broadcast company, in a cash and stock transaction with an enterprise value of approximately $3.6 billion.
  • FirstEnergy subsidiary completes $300 million private placement of Senior NotesJones Day represented The Cleveland Electric Illuminating Company, an electric distribution utility subsidiary of FirstEnergy Corp., a diversified energy holding company, in connection with its private placement of $300 million of Senior Notes.
  • Lamb-Weston/RDO Frozen obtains $70 million credit facilityJones Day represented Lamb-Weston/RDO Frozen, a joint venture of RDO Frozen Co. and Lamb-Weston/Midwest, Inc., in connection with a $70 million credit facility with Coöperatieve Rabobank U.A., New York Branch, as administrative agent and lender, and Bank of America, N.A., as lender.
  • Rex Energy successfully closes $600.5 million 363 asset sale and confirms plan of liquidation with releases and exculpation provisionsA multi-disciplinary Jones Day team represented Rex Energy Corporation in the negotiation of a Restructuring Support Agreement ("RSA") with its first and second lien creditors that formed the foundation for a successful chapter 11 process.
  • Kaiser Aluminum acquires Imperial Machine & Tool Co.Jones Day advised Kaiser Aluminum Corporation in its acquisition of Imperial Machine & Tool Co., a leader in multi-material additive manufacturing and machining technologies for aerospace and defense, automotive, high-tech, and general industrial applications.
  • Great Elm Capital Group acquires Valley Healthcare Group and Northwest Medical for $63.6 millionJones Day advised Great Elm Capital Group, Inc. in the $63.6 million acquisition and combination of Valley Healthcare Group and Northwest Medical to create a leading regional provider of sleep and respiratory-focused durable medical equipment and services across five states in the U.S., serving approximately 70,000 patients annually.
  • Big Red acquired by Keurig Dr PepperJones Day advised Big Red Group Holdings, LLC in the acquisition by Keurig Dr Pepper Inc. ("KDP") of all the outstanding membership interests of Big Red not already owned by KDP.
  • ACI Worldwide completes $400 million offering of Senior NotesJones Day advised ACI Worldwide, a leading international provider of electronic payment and banking systems for financial institutions, retailers, and processors, in connection with its issuance of $400 million of 5.75% Senior Notes due 2026 in a Rule 144A and Regulation S offering.
  • Additional Publications

    • September 2017
      Tax Aspects of Restructuring Financially Troubled Businesses, Tax Management, Bloomberg BNA, No. 541-5th
    • March 2011
      Corporate Acquisitions - D Reorganizations, Tax Management Portfolio
    • 2009
      BNA International Special Report: Corporate Insolvency
    • April 28, 2008
      When Good Loans Go Bad: Selected Tax Issues for Corporations Holding or Owing Troubled Debt, Tax Management Memorandum, Vol. 49, No. 9.
    • 2007
      Extreme Makeover The Proposed Sec. 355 Active Business Regulations in Theory and Practice -- 2007, PLI/Tax
    • September 17, 2007
      Extreme Makeover: The Proposed Sec. 355 Active Business Regulations in Theory and Practice, Tax Management Memorandum
    • 2006
      Tax Management Corporate Separations, 776-3rd
    • April 17, 2006
      Court to Tribune: A Case of Smoke and (Times) Mirror, Tax Management Memorandum Vol. 47, No. 8.
    • October 2005
      Reverse Morris Trust Transactions, M&A Market Analysis
    • 2004
      Corporate Bankruptcy, BNA Tax Management Portfolio, #790
    • May 3, 2004
      Whose Attributes Are They, Anyway? Recent Guidance on the Effects Upon Tax Attributes to Debtors Reorganizations, Cancellation of Debt, and Related Transactions, Tax Management Memorandum, Vol. 45, No. 9
    • September 10, 2001
      The IRS Steps-Up Construction of a Rule of Reason in Reorganization Step-Transactions, Tax Management Memorandum, Vol. 42, No. 19
    • September 25, 2000
      Curious and Curiouser (or, the Two Faces of the IRS), Tax Management Memorandum, Vol. 41. No. 20
    • June 21, 1999
      I Can See Clearly Now - The Proposed Sec. 355(d) Regulations, Tax Management Memorandum, Vol. 40, No. 13
    • March 1, 1999
      When Business Purpose Worlds Collide, Tax Management Memorandum, Vol. 40, No. 5.

    Speaking Engagements

    • November 15-17, 2017
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings Chicago 2017
    • October 18-20, 2016
      November 2-4, 2016
      December 7-9, 2016
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2016
    • November 9-11, 2015
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2015
    • November 4-6, 2014
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2014
    • November 6-8, 2012
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2012
    • November 15-17, 2011
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2011
    • March 2, 2011
      23rd Annual Tax School, Tax Executives Institute - Houston Chapter
    • November 16-18, 2010
      PLI's Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings 2010
    • November 12, 2010
      One-day Seminar Tax Executives Institute
    • May 20, 2010
      Corporate Tax Development, Tax Executives Institute
    • January 13, 2010
      Executive Roundtable Series: Navigating the Tax Laws Under Current Economic Conditions: What the New Administration Is Doing and What the Future May Hold for Businesses
    • May 28, 2009
      Federal Tax Aspects of Debt Restructurings, Federal Bar Association Tax Section, 21st Annual Insurance Tax Seminar
    • April 5, 2009
      When Good Loans Go Bad; Tax Issues for Corporations Holding or Owing Troubled Debt, American Bankruptcy Institute Annual Spring Meeting
    • February 5, 2009
      Recent Public Transactions and Developments in M&A, Twenty-First Annual Tax Executives Institute
    • February 13, 2007
      Spin-Offs: Trends and Developments, Nineteenth Annual Tax Executives Institute
    • March 14, 2006
      Spin-offs: Trends & Developments, 18th Annual TEI Institute, Houston Chapter
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