Patrick Sarch
Biography
Overview
Patrick Sarch is a partner in our global M&A and Corporate practice team based in London and leads our UK Public M&A practice.
Patrick is valued by his wide range of clients for providing commercial, pragmatic, and sound business advice. He is widely viewed as a trusted adviser to the boards of many UK and international listed companies, financial institutions, and investors.
Patrick has almost 30 years' experience advising clients on corporate finance, domestic, and cross-border public company M&A (with extensive experience in competitive and hostile situations), innovative structuring, the Takeover Code, disclosure issues, securities law and the Listing Rules, as well as secondary issues and capital restructuring. In recent years, he has developed a strong "activism" practice, advising both companies and activist shareholders on strategic, ESG, and M&A-related campaigns and disputes. He has a very broad base of skills, including for example advising on corporate aspects of investigations and crisis management.
Patrick has particular experience in financial services but is also active in a number of other sectors, including retail, technology, and consumer businesses. He has advised on a number of global and UK "firsts" and record-breaking deals. Patrick joined the City of London Law Society Company Law Committee in January 2019 and continues to interact regularly with relevant market regulators, such as the Takeover Panel and FCA, as a member of its working groups.
Experience
Smart Metering Systems plc, an AIM-listed energy infrastructure company, on its recommended £1.3bn takeover offer by KKR – one of the largest public deals announced in the UK in 2023.*
Tetra Tech on its £636m successful competitive cash takeover of RPS Group by scheme of arrangement.*
Clipper Logistics on its £1bn cash takeover by GXO Logistics by scheme of arrangement.*
Gatemore Capital Management on its successful campaign to catalyse a takeover of DX Group, including the appointment of a new executive chairman and strategic review.*
Global Investment Holding as majority shareholder of Global Ports Holding, the world's largest cruise port operator, on the possible takeover offer by SAS/MSC.*
Global Investment Holding as majority shareholder of Global Ports Holding on debt to equity conversions and the US$330m issuance of private placement notes as part of a recapitalisation transaction.*
SoftBank on multiple strategic investment transactions including on its £1.6bn investment in the online retail group The Hut Group, the largest strategic tech investment in the UK market in 2021.*
ISTARI Global, the cyber resilience platform of Temasek, on various strategic investment and other cross-border growth capital transactions.*
Aroundtown SA on its investment in and subsequent €1.57bn joint takeover with CPI Property Group of Globalworth – the only hostile takeover to complete in the UK in 2021.
The Board of Co-operative Bank on its formal sale of process and successful capital restructuring and change of control, as well as various regulatory capital issuances.
Various clients on a range of "activist" matters, such as campaigns to remove/appoint directors, change/review strategy, engage or refrain from engaging in M&A, and return of capital transactions.
Third Point on its US$2bn investment in, and engagement with, Prudential PLC.
Avast plc, the FTSE100 global leader in digital security and privacy, on its US$9.2 billion merger with NortonLifeLock Inc.
The key shareholders of AB InBev on the complex and innovative structuring to facilitate its US$105bn acquisition of SAB Miller, the largest M&A deal in recent history.
AB InBev on its US$75bn financing in connection with its acquisition of SAB Miller, the largest ever M&A financing.
EADS on its proposed US$38bn merger with BAE Systems.
Kraft Foods on its controversial, unsolicited £11.9bn takeover of Cadbury, a transaction that rewrote the rulebook for takeover transactions in the UK.
Avon Rubber plc on its acquisition of 3M's ballistic-protection business in the U.S. and the rights to the Ceradyne brand for US$91m.
Avon Rubber plc on its disposal of milkrite/InterPuls for US$180m and acquisition of Team Wendy Helmet Systems for US$130m.
GSO Capital Partners and its affiliates on Advent International's approximately £4bn acquisition of Cobham plc.
EchoStar, a U.S. satellite group, on its proposed and unsolicited US$3.2bn takeover offer for Inmarsat, the UK-based FTSE 250 satellite operator.
Goldman Sachs Infrastructure Partners and Antin Infrastructure Partners on their £537m acquisition of CityFibre Infrastructure Holdings plc by way of a scheme of arrangement.
Anchorage Capital Group LLC, GIC and Davidson Kempner on the sale of their interests in Eir for £2.5bn.
J Sainsbury PLC on its successful £1.4bn contested takeover of Home Retail Group PLC.
Barclays on many deals including its £6bn rights issue, its US$13.5bn sale of BGI to BlackRock, following its proposal to sell iShares to CVC for US$4.4bn and its acquisition of Lehman North America.
The LCH.Clearnet Group on its formation and a number of transactions since, including the ground-breaking offer by the LSE for a 60% stake, valuing LCH at £813m, and simultaneous £320m capital raise.
Neste on the divestment of its base oils business to Chevron and the Bahrain National Oil and Gas Authority.
Roark Capital Group and International Car Wash Group (ICWG) on the sale of ICWG to Driven Brands.
*Matter handled prior to joining White & Case.
Ranked as a leading individual for Upper Mid-market and Premium Deals, Legal 500 UK, 2024
Ranked for Corporate/M&A: High-end Capability, Chambers & Partners UK, 2024
