Dealwatch: Sign of the times for advisers on Priory Group and vegan foods deals

Dealwatch: Sign of the times for advisers on Priory Group and vegan foods deals

Innovative, Covid-driven transactions have continued to emerge in recent months, with the first working week of 2021 proving no exception. As many embark on ‘Veganuary’ after the meaty excesses of the holiday season, a timely deal has been the acquisition by LIVEKINDLY Collective, a collection of plant-based food companies, of No Meat, Iceland Foods’ vegan meat alternative company.

Also topical, given the increasing challenges to mental health imposed by the pandemic, is a deal that sees Acadia Healthcare Company sell its UK business – which operates as The Priory Group – to Waterland Private Equity for £1.08bn. Continue reading “Dealwatch: Sign of the times for advisers on Priory Group and vegan foods deals”

Dealwatch: $39bn AstraZeneca deal caps off pharma boom year as advisers secure roles on G4S bidding war

Dealwatch: $39bn AstraZeneca deal caps off pharma boom year as advisers secure roles on G4S bidding war

News over the weekend of AstraZeneca’s $39bn deal to acquire Alexion Pharmaceuticals has capped off the 2020 pharma boom in style with what has been touted as the largest acquisition of a US target company and the largest acquisition financing of the year.

Elsewhere, advisers benefited from another big-ticket transaction as the bidding war for security services company G4S ramped up with a bid from Allied Universal, and an equity valuation of £3.8bn.  Continue reading “Dealwatch: $39bn AstraZeneca deal caps off pharma boom year as advisers secure roles on G4S bidding war”

Cross-border M&A: Asian bidders usher in different mindset

Cross-border M&A: Asian bidders usher in different mindset

Alex Novarese, Legal Business: It has been a record period for Asian activity into Europe. How do you see the general trends?

Abhijit Mukhopadhyay, Hinduja Group: China is an issue, because the main difference between the Asian companies, European companies and Chinese companies is that Chinese companies are directly or indirectly state-owned. Continue reading “Cross-border M&A: Asian bidders usher in different mindset”

Global firms lined up to advise as Thomas Cook rescue talks fail

Global firms lined up to advise as Thomas Cook rescue talks fail

With news this weekend that Thomas Cook is on the brink of collapse and has ceased trading with immediate effect, a number of global elite firms have been lined up to advise on the latest high-profile collapse of a household name.

Ashurst is advising  the Official Receiver as well as AlixPartners and KPMG, which were appointed as special managers in respect of certain Thomas Cook entities, while Slaughter and May and Latham & Watkins are advising Thomas Cook. Insolvency practitioners from AlixPartners have been appointed as special managers over the airline and tour operator companies, while practitioners from KPMG have been appointed as special managers to the group’s retail division and to its aircraft maintenance companies. Continue reading “Global firms lined up to advise as Thomas Cook rescue talks fail”

City and US heavyweights line up on Lego owner’s £4.8bn offer for Merlin

City and US heavyweights line up on Lego owner’s £4.8bn offer for Merlin

Slaughter and May and Clifford Chance (CC) are representing the City elite on a £4.8bn offer for Merlin Entertainments, in a deal that brought together a line-up of heavy hitters with Kirkland & Ellis and Latham & Watkins also fielding veteran partners.

The deal was announced on 28 June with Merlin, which is being advised by Slaughters, agreeing the terms of a recommended offer. The acquiring consortium comprises Kirkbi – the investment vehicle for Lego’s founding family – alongside private equity houses The Blackstone Group and the CPP Investment Board (CPPIB). Continue reading “City and US heavyweights line up on Lego owner’s £4.8bn offer for Merlin”