How to Acquire Companies in Bankruptcy: M&A Strategies with Mimi Wu

Mimi Wu, Partner at Sullivan & Cromwell

When a company is struggling financially, M&A can be a lifeline—but navigating distressed deals is a whole different game. In this episode of the M&A Science Podcast, Mimi Wu, Partner at Sullivan & Cromwell, breaks down how Chapter 11 bankruptcy, 363 sales, and creditor negotiations come into play when businesses are in distress.

Mimi has worked on some of the biggest restructuring cases, including FTX and Silicon Valley Bank, and she’s here to explain how distressed M&A really works—without the legal jargon. Whether you’re an investor, a corporate executive, or just curious about how companies handle financial trouble, this episode is packed with insights.

Things you will learn:

What is Chapter 11? – How bankruptcy protects businesses and gives them time to reorganize
The Power of a 363 Sale – Why buyers love these deals and how they can acquire assets “free and clear”
Negotiating with Creditors – What happens when companies can’t pay their debts, and the options they have‍
Finding Deals in Bankruptcy – How investors and buyers can identify distressed M&A opportunities before they hit the auction stage

Mimi Wu

Mimi Wu is a Partner at Sullivan & Cromwell’s M&A Group, specializing in distressed M&A, restructuring, and corporate transactions. Holding a JD/MBA from Columbia, Mimi has led high-stakes bankruptcy deals, including FTX and Silicon Valley Bank. Her expertise includes creditor negotiations, structuring 363 asset sales, and navigating Chapter 11 bankruptcies, making her a trusted legal advisor for distressed transactions.