Dealwatch: Baker McKenzie and Gibson Dunn lead on $5bn data centre investment while US trio orchestrate $27bn energy deal

Dealwatch: Baker McKenzie and Gibson Dunn lead on $5bn data centre investment while US trio orchestrate $27bn energy deal

Baker McKenzie and Gibson Dunn have played key roles in KKR’s $5bn investment in a stake in Gulf Data Hub, one of the largest independent data centre platforms in the Middle East. 

Continue reading “Dealwatch: Baker McKenzie and Gibson Dunn lead on $5bn data centre investment while US trio orchestrate $27bn energy deal”

Hogan Lovells joins top firms in £3.6bn Royal Mail takeover as UK govt approves bid

Hogan Lovells joins top firms in £3.6bn Royal Mail takeover as UK govt approves bid

Hogan Lovells has secured a new role as adviser to the UK government on the £3.6bn acquisition of International Distribution Services (IDS), the parent company of Royal Mail, by Czech billionaire Daniel Křetínský’s EP Group, alongside Kirkland, Paul Weiss, and Slaughter and May. Continue reading “Hogan Lovells joins top firms in £3.6bn Royal Mail takeover as UK govt approves bid”

Dealwatch: US trio lead on $3.8bn Anglo American coal sale as Apax seals £700m professional services buyout

Dealwatch: US trio lead on $3.8bn Anglo American coal sale as Apax seals £700m professional services buyout

Latham & Watkins, Jones Day, and Wachtell, Lipton, Rosen & Katz are advising on Anglo American’s sale of its Australian steelmaking coal business to US coal mining company Peabody Energy, in a deal worth up to $3.775bn.

The transaction value comprises $2.05bn at completion, deferred cash consideration of $725m over four years after completion, a price-linked earnout up to $550m, and a further $450m contingent on the reopening of the Grosvenor mine. Continue reading “Dealwatch: US trio lead on $3.8bn Anglo American coal sale as Apax seals £700m professional services buyout”

Dealwatch: US elite tuck into $36bn Mars-Pringles snackquisition

Dealwatch: US elite tuck into $36bn Mars-Pringles snackquisition

Five elite US law firms have helped to push through the biggest M&A deal of the year so far – the $36bn acquisition of Pringles and Pop Tarts maker Kellanova by Mars.

The all-cash offer values Kellanova at $83.50 per share – a premium of around 33% to its 52-week high as of 2 August.

Continue reading “Dealwatch: US elite tuck into $36bn Mars-Pringles snackquisition”

Dealwatch: Slaughters, Latham lead as Hammerson sells £1.5bn stake in Bicester Village owner

Dealwatch: Slaughters, Latham lead as Hammerson sells £1.5bn stake in Bicester Village owner

Shopping centre owners have weathered a difficult few years, with the rise of e-commerce, Covid and the cost of living crisis causing much grief for those with stakes in bricks and mortar retail.

There is cause for optimism, however, with private equity firm L Catterton’s acquisition of Hammerson’s £1.5bn stake in Value Retail – owner of the Bicester Collection – emblematic of increasing confidence in the sector, and raising hopes of a continued recovery in deal activity.

Continue reading “Dealwatch: Slaughters, Latham lead as Hammerson sells £1.5bn stake in Bicester Village owner”

Dealwatch: US firms lead on household names The Body Shop and Yodel as restructuring returns

Dealwatch: US firms lead on household names The Body Shop and Yodel as restructuring returns

The long-dormant restructuring market has had a shot in the arm recently, with the City teams of US stalwarts winning lead mandates on the administration of The Body Shop and a rescue deal of Yodel.

Jones Day and White & Case are handling the administration of cosmetic group The Body Shop, while Dechert and Weil advised parcel delivery business Yodel to secure a rescue deal backed by one of its rivals. Continue reading “Dealwatch: US firms lead on household names The Body Shop and Yodel as restructuring returns”

Dealwatch: €5bn Vodafone deal shows ‘the debt is there, if you can find the right transaction’

Dealwatch: €5bn Vodafone deal shows ‘the debt is there, if you can find the right transaction’

The biggest European transaction of recent weeks came when Vodafone announced the sale of its Spanish business to TMT investor Zegona Communications for €5bn.

Slaughter and May advised Vodafone with a London-based team led by corporate partners Victoria MacDuff and James Cook and including IP and IT partner Duncan Blaikie, finance partner Charlie McGarel-Groves, tax partner Mike Lane, employment partner Philippa O’Malley, and competition partner Claire Jeffs, who splits her time between London and Brussels. Continue reading “Dealwatch: €5bn Vodafone deal shows ‘the debt is there, if you can find the right transaction’”

Dealwatch: Big-ticket life sciences activity picks up again as overseas investors buy into the UK

Dealwatch: Big-ticket life sciences activity picks up again as overseas investors buy into the UK

The broader life sciences sector saw a spate of deal activity in recent weeks, with two acquisitions over the billion-dollar mark and several more in the hundreds of millions.

The highest-value transaction came on 28 August, when US-based life sciences company Danaher announced its agreement to purchase Cambridge-based protein research tools supplier Abcam in a deal valued at $5.7bn. Continue reading “Dealwatch: Big-ticket life sciences activity picks up again as overseas investors buy into the UK”