Simpson Thacher is representing CoStar Group, Inc. in connection with its proposed acquisition of LoopNet, Inc., which operates an online commercial real estate marketplace, in a transaction valued at approximately $860 million.
Pursuant to the terms of the merger agreement, LoopNet stockholders will receive $16.50 in cash and 0.03702 shares of CoStar Group common stock for each share of LoopNet common stock. Completion of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals and the approval of LoopNet’s stockholders.
The Simpson Thacher team includes Robert Spatt, Shalini Aggarwal, Anna Schwartz, Daeyna Grant and Jordan Taylor (M&A); Brian Steinhardt and Christian Fischer (Credit); Tristan Brown, Jamin Koslowe and Tyler Andersen (Executive Compensation and Employee Benefits); Lori Lesser and Parijat Sharma (IP); Nancy Mehlman and Sean Austin (Tax); Kevin Arquit and Aimee Goldstein (Antitrust); and Mike Isby (Environmental).