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Simpson Thacher Recognized in Law360 for Advising on $20 Billion in M&A Deals in One Week
09.25.14
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A Law360 article, “One M&A Firm Stands Tall With $20B In Deals Last Week,” recognized Simpson Thacher for advising on “close to $20 billion in notable M&A deals across the automotive, energy, real estate and retail industries” in one week.
The Firm is acknowledged for its representation of TRW Automotive Holdings Corp (NYSE: TRW) in connection with its proposed sale to ZF Friedrichshafen AG in an all-cash transaction valued at approximately $13.5 billion on an enterprise value basis; of Riverstone Holdings LLC and its affiliate, Eagle Energy Exploration LLC, in connection with the acquisition financing relating to Eagle’s agreement to purchase oil and gas assets from investment funds affiliated with Fairway Resource Partners; of Glimcher in connection with its announced acquisition by Washington Prime Group Inc. in a stock and cash transaction valued at $4.3 billion; of Hellman & Friedman LLC in connection with its announced acquisition of Grocery Outlet from affiliates of Berkshire Partners LLC; of Sedgwick Claims Management Services, a portfolio company of Kohlberg Kravis Roberts & Co. L.P., in connection with the announced acquisition of T&H Global Holdings, LLC and its subsidiaries from affiliates of Flexpoint Ford LLC; and of Cosmos Bank Taiwan as it closed its NT$23.09 billion (US$759.39 million) acquisition by China Development Financial Holding Corp. The article also highlights the Firm’s representation of Alibaba Group’s historic US$25 billion IPO.
On demand for big transactions, Simpson Thacher Corporate Partner Lee Meyerson commented, “We are now six years out from the beginning of the 2008 financial collapse, and it is only really during the past 18 months that we have seen sustained M&A volumes. I would view it as five years of pent-up M&A demand supported by a unique combination of ultralow interest rates and a soaring stock market. It gives acquirers a lot of dry powder to do acquisitions.”
Law360 remarked that the Firm’s big week comes one year after it had a similar string of deals in September 2013, which included the Firm’s representation of Vodafone Group PLC in the $130 billion sale of its Verizon Wireless stake.
Please click here to read the full Law360 article (subscription required).