Mergers & Acquisitions

About

Acquisitions, disposals and joint ventures have always been an important strategic option for corporations, financial institutions and private equity investors. Our clients rely on our advice to help understand and assess these options and execute their most complex transactions. Our global depth and breadth support our clients in both their domestic deals and their most complex multi-jurisdictional transactions.

Clients value our innovative approach and high degree of individualized attention. Our goal is to deliver superior service, earn your trust and build our relationship. Together with our clients, we have been involved in a number of market "firsts". Our knowledge and experience enable us to devise creative deal structures, win auctions, design acquisition and disposal programs and implement productive strategies for acquirers, sellers or acquisition targets.

 

Global presence, sector focus and cross-practice insight

Our clients include leading multinationals and other corporations, major commercial and investment banks, private equity funds, entrepreneurs and smaller visionaries. We help clients close deals across industries, especially:

  • Private equity
  • Financial institutions
  • Natural resources, including energy, oil and gas, metals and mining
  • Infrastructure
  • Technology, media and telecommunications
  • Healthcare and pharmaceuticals
  • Chemicals
  • Industrials
  • Real estate
  • Consumer

Our global footprint ensures we can counsel clients no matter where they are based. Our strong presence in developed and emerging markets and our ability to offer a distinct blend of US, UK and local law insight provide our clients unique perspective into legal implications and local market conditions.

We regularly collaborate with other top-tier practices within our Firm to bring our clients the best specialized knowledge and experience that is relevant to their transactions, most notably in antitrust, financing, tax, employee benefits, real estate, regulatory (CFIUS, national security, energy, financial services), intellectual property, restructuring and litigation.

 

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AWARDS & RECOGNITION

Consistently ranked in the top 10 for deal value in leading M&A league tables for over 6 years
Thomson Reuters, Mergermarket and Bloomberg

#1 Law Firm for M&A by deal value globally
Mergermarket and Bloomberg M&A League Tables 2016

#1 Law Firm for M&A by deal value in the US, Europe, Asia-Pacific and globally. This is the first time a number one ranking has been achieved across the board by a single firm.
Mergermarket M&A League Tables H1 2016

Ranked #1 Counsel to Investment Advisors for M&A Globally
Corporate Control Alert, The Deal 2018

M&A Deal of the Year
Sempra Energy US$9.45 billion acquisition of Energy Future Holdings Corp.
The Deal 2018

Japan Deal of the Year, M&A Deal of the Year (Premium), and TMT Deal of the Year
US$18 billion acquisition of Toshiba Memory by a consortium led by Bain Capital
Asia Legal Business Japan Law Awards 2018

#1 Emerging Markets M&A by value
Thomson Reuters League Tables 2019

Experience

SAUDI ARAMCO

US$69.1 billion acquisition of Saudi Basic Industries Corporation, 2019
We represented Saudi Aramco in its US$69.1 billion acquisition of a 70 percent stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund (PIF) in Saudi Arabia. This is one of the biggest deals ever done in the global chemical industry.

ANTHEM, INC.

US$54.2 billion acquisition of Cigna Corporation
We represented Anthem, Inc., one of the nation's largest health benefits companies, in its US$54.2 billion agreement to acquire Cigna Corporation, a combination that will create a premiere health benefits company with critical diversification and scale to lead the transformation of health care delivery for consumers.

TOSHIBA

US$18 billion sale of Toshiba Memory, 2017
We represented Toshiba in connection with the acquisition of Toshiba Memory by a consortium led by Bain Capital for JP¥2 trillion (approx. US$18 billion)—the largest leveraged buyout deal in Asia and the largest Japanese inbound deal. This transaction was names "Japan Deal of the Year", "M&A Deal of the Year", and "TMT Deal of the Year" at Asia Legal Business Japan Law Awards 2018.

CALPINE CORPORATION

US$17 billion sale to Energy Capital Partners, 2017
We advised Calpine Corporation (NYSE: CPN) in its US$17 billion take private by Energy Capital Partners and a consortium of investors, including Access Industries and Canadian Pension Plan Investment Board.

IFM INVESTORS

US$10.3 billion acquisition of Buckeye Partners, 2019
We advised IFM Investors in its US$10.3 billion acquisition of Buckeye Partners, L.P. (NYSE: BPL).

NEWMONT

US$10 billion acquisition of Goldcorp, Inc., 2019
We represented Newmont Mining Corporation (NYSE: NEM) in its US$10 billion acquisition of Goldcorp Inc. (NYSE: GG, TSX: G).

SEMPRA ENERGY

US$9.45 billion acquisition of Energy Future Holdings Corp., 2018
We represented Sempra Energy (NYSE: SRE) in its US$9.45 billion acquisition of Energy Future Holdings Corp., which indirectly owns 80 percent of Oncor Electric Delivery Company, LLC. The transaction, which created the largest utility holding company in the US, valued Oncor at US$18.8 billion. This transaction was named "M&A Deal of the Year" by The Deal in 2018.

BROOKFIELD INFRASTRUCTURE

US$8.4 billion take private of Genesee Wyoming, 2019
We advised a consortium composed of Brookfield Infrastructure, its institutional partners and GIC in the US$8.4 billion take private of Genesee & Wyoming Inc. (NYSE:GWR).

LIFEPOINT

US$5.6 billion merger with RCCH HealthCare Partners, 2018
We represented LifePoint Health, Inc. (NASDAQ: LPNT) in its US$5.6 billion merger with RCCH HealthCare Partners (RCCH), owned by certain funds managed by Apollo Global Management, LLC (NYSE: APO).

QINGDAO HAIER

US$5.4 billion acquisition of GE's appliance business, 2016
We represented Qingdao Haier, a company that is 41 percent owned by Haier Group Corp., in its US$5.4 billion acquisition of GE's appliance business, through an auction process. The transaction was named "Cross-border M&A Deal of the Year" by The M&A Advisor 2017.

AMER SPORTS CORPORATION

€4.6 billion offer for Amer Sports, 2019
We represented Amer Sports Corporation in the €4.6 billion voluntary recommended cash tender offer made by an investor consortium.

ADNOC

US$4 billion sale of stake in ADNOC Oil Pipelines, 2019
We represented Abu Dhabi National Oil Company on the sale of a 40% stake in ADNOC Oil Pipelines to a consortium formed between KKR and BlackRock.

SONY CORPORATION OF AMERICA

US$3.5 billion acquisition of EMI Music Publishing, 2019
We represented Sony Corporation in its US$3.5 billion acquisition of EMI Music Publishing held by a consortium of investors led by Mubadala Investment Company.

LAXNESS

€3.5 billion sale of chemical park operator, 2019
We represented LANXESS in the sale of its minority stake in Currenta to Macquarie Infrastructure and Real Assets.

LINE CORPORATION

Take-private of LINE Corporation, 2019
We represented The Special Committee for Line Corporation in the US$3.23 billion acquisition of the remaining 27.38% stake in Line Corporation by a consortium led by Naver and Softbank.

SODASTREAM INTERNATIONAL LTD.

US$3.2 billion sale of the #1 sparkling water brand to PepsiCo, 2019
We represented SodaStream International Ltd. (NASDAQ/TVL: SODA) in its US$3.2 billion sale to PepsiCo, Inc. (NASDAQ: PEP).

ECHOSTAR

£3.2 billion offer for Inmarsat plc, 2019
We advised satellite group EchoStar on its £3.2 billion takeover offer of Inmarsat plc.

ROARK CAPITAL/INSPIRE BRANDS

US$2.9 billion acquisition of Buffalo Wild Wings, 2017
We represented Roark Capital Group and its portfolio company Arby's Restaurant Group in the US$2.9 billion acquisition of Buffalo Wild Wings, Inc. (NASDAQ: BWLD).

US$2.9 billion acquisition of Sonic Corp., 2018
We represented Roark Capital Group and Inspire Brands, Inc. the US$2.3 billion acquisition of Sonic Corp. (NASDAQ: SONC).

US$450 million repurchase of The Wendy's Company, 2018
We represented Roark Capital Group and Inspire Brands, Inc. in the US$450 million repurchase of The Wendy's Company's (NASDAQ: WEN) remaining 12 percent ownership interest in Inspire Brands.

LUXOFT HOLDING, INC.

US$2 billion acquisition by DXC Technology Company, 2019
We represented Luxoft Holding, Inc. (NYSE: LXFT) in its US$2 billion acquisition by DXC Technology Company (NYSE: DXC).

ZYNGA INC.

US$1.8 billion acquisition of Peak Oyun Yazılım ve Pazarlama Anonim Şirketi
We represented Zynga Inc. (NASDAQ: ZNGA), a Silicon Valley-based online gaming company in its US$1.8 billion acquisition of Peak Oyun Yazılım ve Pazarlama Anonim Şirketi, a Turkish mobile gaming company. The transaction marked the largest start-up tech deal in Turkey, and the second biggest deal for a technology company in Mid-East & North Africa. We also represented Zynga in its first Turkish acquisition, the acquisition of Gram Games in 2018, as well as its acquisition of the Finnish gaming company, Small Giant Games in 2018.

AVAST SOFTWARE

US$1.3 billion acquisition of AVG Technologies N.V., 2016
We represented Avast Software in its US$1.3 billion acquisition of AVG Technologies N.V. (NYSE:AVG).

SEMPRA ENERGY

US$1.275 billion take private of InfraREIT, 2019
We advised Sempra Energy (NYSE: SRE) in the US$1.275 billion take private by Oncor Electric Delivery Company LLC, a subsidiary of Sempra, of InfraREIT, Inc. (NYSE: HIFR). We also advised Sempra Energy in the acquisition of a 50% limited partnership interest in a holding company that will own Sharyland Utilities, LP.

CHINA THREE GORGES

US$1.2 billion acquisition of Duke Energy's assets, 2016
We represented China Three Gorges Corporation, a clean energy group, in its US$1.2 billion acquisition of Duke Energy's assets in Brazil.

NASPERS

US$1.16 billion acquisition of stake in Avito, 2019
We represented Naspers in its US$1.16 billion acquisition of an additional 29.1 percent shareholding in Avito.

DELEK GROUP

US$965 million acquisition of Caesar Tonga oil field, 2019
We advised Delek Group in the acquisition of 22.45 percent of the Caesar Tonga oil field in the Gulf of Mexico from a subsidiary of Royal Dutch Shell plc for US$965 million.

PERNOD RICARD

Acquisition of Firestone & Robertson Distilling, 2019
We represented Pernod Ricard SA, the world's second largest producer of wines and spirits, in its acquisition of Firestone & Robertson Distilling.

Acquisition of Rabbit Hole Spirits, 2019
We represented Pernod Ricard, SA in its acquisition of a majority interest in Rabbit Hole Spirits, LLC, a U.S. premium bourbon brand.

DIC CORPORATION

Acquisition of BASF's global pigments business, 2019
DIC Corporation and its US subsidiary Sun Chemical Corporation in the acquisition of BASF's global pigments business, known as BASF Colors & Effects (BCE).

LANTHEUS HOLDINGS, INC.

Acquisition of Progenics Pharmaceuticals, 2019
We represented Lantheus Holdings, Inc. (NASDAQ: LNTH) in the acquisition of Progenics Pharmaceuticals, Inc. (NASDAQ: PGNC).

AVON RUBBER P.L.C.

Acquisition of 3M's Ballistic-Protection Business, 2019
We advised Avon Rubber p.l.c. in its acquisition of 3M's ballistic-protection business in the United States.

PPF GROUP

Acquisition of Telenor Banka, 2019
We advised PPF Group in its acquisition of a 100% stake in Serbia-based Telenor Banka, the first fully mobile and online bank operating in Serbia, from Telenor Group.

NESTLE

Acquisition of Terrafertil, 2018
We represented Nestle S.A in its acquisition of a majority stake in Terrafertil.