News & Events

The Firm is representing Silver Lake Sumeru in connection with the announced merger of Power-One, Inc. (NASDAQ: PWER) and ABB Ltd (NYSE: ABB).  Investment funds affiliated with Silver Lake Sumeru own common stock and convertible preferred stock representing, on an as-converted basis, approximately 33% of the outstanding  equity securities of Power-One.  Under the terms of the merger agreement, ABB will acquire all of the issued and outstanding shares of Power-One for $6.35 per share in cash, which represents an equity value of approximately $1.028 billion.  The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the second half of 2013.

Power-One is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and a leading designer and manufacturer of photovoltaic inverters.

The Simpson Thacher team includes Rich Capelouto, Atif Azher and Alexis Orenstein.