Simpson Thacher Represents Investor Group in Acquisition of Tekelec
11.07.11
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Simpson Thacher is representing a consortium led by Siris Capital Group, LLC, in connection with its announced acquisition of Tekelec (NASDAQ: TKLC), the mobile broadband solutions company, for $11 per share in an all-cash deal valued at about $780 million. Affiliates of The ComVest Group, GSO Capital Partners LP, Sankaty Advisors LLC, ZelnickMedia and others have committed to provide debt or additional equity financing in the transaction. The transaction is expected to close during the first quarter of 2012, pending shareholder approval, regulatory approvals and customary closing conditions.
Tekelec connects people and devices to the mobile Internet, with more than 25 offices around the world serving customers in more than 100 countries.
The Simpson Thacher team for the transaction includes Vijay Sekhon, Justin Yi and Margaret Rubin (M&A); Christopher Brown (Credit); Jessica Marek (Litigation); Lori Lesser and Marcela Robledo (Intellectual Property); Daniel Foster (Tax); Tristan Brown and Sarah Dale (Executive Compensation and Employee Benefits); and Michael Naughton (Antitrust).