The firm is representing ENEL S.p.A., Italy’s largest power company, in connection with its unsolicited joint bid with Acciona, S.A., a Spanish infrastructure and construction company, for 100% of the share capital of Endesa, S.A., Spain’s largest power company. On April 3, 2007, ENEL and Acciona agreed with E.ON AG, Germany’s largest power company, E.ON’s withdrawal from the 18-month takeover contest for Endesa. This agreement with E.ON contemplates a joint tender offer by ENEL and Acciona for 100% of the share capital of Endesa at no less than €41 per share, which values Endesa at more than €43.4 billion ($57.9 billion). The shares of Endesa are listed on the Spanish, Chilean and New York stock exchanges.
The Simpson Thacher team includes Michael Wolfson, Alan Klein, Todd Crider and Jenny Marsh (Corporate), and Mark Cunha, James Gamble, David Elbaum, William Regan, Sara Ricciardi, Tinuade Awe, Sun Choi, Amy Machado and Marisa Sarig (Litigation).