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M&A: Seller's Counsel

Mayer Brown advises Milestone Aviation Group and a consortium of financial investors in Milestone’s $1.775 billion sale to GE Capital

17 Oct 2014

Mayer Brown represented Dublin-based helicopter lessor The Milestone Aviation Group and a consortium of financial investors led by private equity firm The Jordan Company in Milestone’s $1.775 billion stock sale to GE Capital Aviation Services, the aircraft leasing unit of GE. Milestone is the world’s largest helicopter-leasing company by fleet value and the first global aircraft operating lease company focused exclusively on the helicopter market.

CSR plc - recommended cash offer by a subsidiary of Qualcomm Incorporated

17 Oct 2014

Slaughter and May is advising CSR plc, an innovator in the development of multifunction semiconductor platforms and technologies for the Auto, Consumer and Voice & Music markets, on the recommended cash offer by Qualcomm Global Trading Pte. Ltd., an indirect wholly-owned subsidiary of Qualcomm Incorporated, which values CSR plc at approximately £1,560 million.

Travers Smith advises management on the sale of Bridon to Ontario Teachers' Pension Plan

16 Oct 2014

Travers Smith led by senior partner Chris Hale have advised management on the sale of Bridon Limited by Melrose Industries PLC to Ontario Teachers' Pension Plan (the largest single-profession pension plan in Canada) for an amount in the region of £365 million.

Bridon, headquartered in Doncaster, is a leading specialist in the manufacture of wire and rope solutions for the mining, construction and energy sectors, operating manufacturing units worldwide, along with technical and sales offices.

Noerr advises Silverfleet Capital on the sale of Aesica Pharmaceuticals

16 Oct 2014

Noerr led by Dr. Georg Schneider and Dr. Tobias Koppmann advised the European investment company Silverfleet Capital (London) on the sale of Aesica Pharmaceuticals. Silverfleet Capital is selling Aesica for approx. 290 million Euro to the listed Consort Medical plc., an international healthcare company. In 2011, a Noerr team led by Georg Schneider previously acted as legal advisor to Silverfleet Capital on the acquisition of Aesica.

DLA Piper advises Synergy Health PLC on its $5.2 billion merger with Steris Corporation

15 Oct 2014

DLA Piper has advised Synergy Health plc ("Synergy"), a leading global supplier of outsourced services to healthcare providers and other customers concerned with health management, on its recommended combination with STERIS Corporation ("STERIS"), a major provider of infection prevention and other procedural products and services focussed primarily on healthcare, pharmaceutical and research markets. The transaction, which was announced this morning, values Synergy at $1.9 billion, and the combined group at $5.2 billion.

Melrose Industries Announces Sale of its Bridon Division

14 Oct 2014

The Firm is representing Melrose Industries PLC, a UK-based FTSE 250 company, on the sale of Bridon Limited (“Bridon”) to Ontario Teachers’ Pension Plan Board for an enterprise value of £365 million, on a debt and cash-free basis, subject to customary adjustments.

Bridon designs and manufactures a comprehensive range of lifting and stabilising solutions for applications in wire rope, fibre rope, steel wire and strand. Bridon services global customers in the oil & gas, mining, industrial, marine and infrastructure sectors.

UBM to Acquire Advanstar for $972 Million

13 Oct 2014

UBM plc announced that it has entered into a definitive agreement to acquire Paul, Weiss client Advanstar Communications for $972 million in cash. UBM is a U.K.-headquartered communications and events business. Advanstar operates 54 trade shows and over 100 conferences annually, including Magic Marketplace, the largest U.S. fashion trade show. The transaction, which is expected to close by year end, will make UBM the largest events business in the United States.

Gernandt & Danielsson advised Fidim in connection with the disposal of Rottapharm/Madaus group to Meda

13 Oct 2014

International specialty pharma company Meda has acquired Rottapharm/Madaus, an Italian company owned by the Rovati family, for a consideration of SEK 21.2 billion (EUR 2.275 billion) on a cash and debt free basis. The consideration comprised SEK 15.3 billion (EUR 1.643 billion) in cash, 30 million Meda shares corresponding to a value of SEK 3.3 billion (EUR 357 million) and a non-contingent deferred payment in January 2017 of SEK 2.6 billion (EUR 275 million). Following completion of the transaction, the Rovati family owns 9% of Meda.

Gernandt & Danielsson advised the sellers of Corvette Pharmaceutical Services Group to Recipharm

13 Oct 2014

The contract development and manufacturing organisation, Recipharm AB, has acquired the Milan based Corvette Pharmaceutical Services Group from Italian private equity group, LBO Italia Investmenti s.r.l. The transaction values Corvette at an enterprise value EUR 120 million (SEK 1.1 billion) and the preliminary equity purchase price at closing was EUR 100 million, of which EUR 50 million was paid in cash and EUR 50 million by a convertible bond.