The month-long bidding war between French minerals company Imerys and New York’s Mineral Technologies (MT) for Amcol International this week saw Skadden, Arps, Slate, Meagher & Flom lose out to Cravath, Swaine & Moore as MT’s $1.7bn offer saw its competitor finally bow out of the frame. Although of significant consolation to the top five Global 100 firm is its second billion dollar deal of the week: the merger of client Chiquita with its rival, world renowned banana brand Fyffes.
MT, which produces the mineral bentonite primarily used in the energy and construction industry, was represented by Cravath’s head of corporate Scott Barshay, who for the past month has faced Skadden’s corporate partners Kenneth Wolff and Pierre Servan-Schreiber from New York and Paris respectively, as Imerys attempted to expand its presence in the US.
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