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M&A: Seller's Counsel

DLA Piper represents ACTIVE Network in $1.05 billion private equity deal

28 Nov 2013

DLA Piper represented ACTIVE Network, a San Diego-based software company, in its $1.05 billion acquisition by Vista Equity Partners, the largest Internet leveraged buyout in 2013.

Vista acquired all of the outstanding shares of ACTIVE Network’s common stock for $14.50 per share in cash, representing a premium of approximately 111 percent to ACTIVE Network’s year to date average closing stock price at the time of the announcement of the acquisition.

Linklaters advises Triton on sale of tradition-steeped door and window manufacturer Weru

27 Nov 2013

Linklaters has advised the private-equity investor Triton on the sale of the Swabian company Weru GmbH to H.I.G. Capital. The tradition-steeped supplier of windows and doors, Germany’s market leader, had been part of Triton’s portfolio since 1999. The sale was the result of a bidding process. The parties agreed not to disclose the purchase price.

Linklaters advises P&I Personal & Informatik AG on takeover bid

27 Nov 2013

Kallisto Neunzigste Vermögensverwaltungs GmbH, a company owned by the financial investor HgCapital, has signed a purchase agreement on the acquisition of Argon GmbH, the majority shareholder in P&I Personal & Informatik AG, and also intends to make a voluntary public takeover offer to P&I Personal & Informatik AG’s shareholders. Argon GmbH was previously owned by the financial investor Carlyle.

Norton Rose Fulbright acts on US$141.5 million sale of Stonewall Mining to Shandong Qixing

27 Nov 2013

A cross-border team from Norton Rose Fulbright has advised Stonewall Resources Ltd (Stonewall) on the sale of its subsidiary Stonewall Mining (Proprietary) Limited (Stonewall Mining) to Chinese diversified industrial company Shandong Qixing Iron Tower Co., Ltd (Shandong Qixing).

Stonewall and the other shareholders in Stonewall Mining are to receive over US$141.5 million all cash consideration on successful completion, with Stonewall’s share being over US$124 million.

Norton Rose Fulbright advises Generali on sale of Fata Danni to Cattolica for €179 mln

27 Nov 2013

Norton Rose Fulbright has advised Generali Group ("Generali") on the sale of 100 percent of the capital of Fata Assicurazioni Danni S.p.A. ("Fata Assicurazioni") to Cattolica for a total gross consideration of €179 million. The sale purchase agreement was signed on November 20, 2013. Fata Assicurazioni operates in the insurance sector business niche of agricultural risks through a distribution network of 171 agencies across Italy.

Ashurst advises Grohe subsidiary Joyou AG on public takeover offer by Lixil group

26 Nov 2013

Ashurst advises Joyou AG on the voluntary public takeover offer of GraceB S.à r.L. (GraceB) for Joyou-shares. Joyou is a subsidiary of the Grohe Group listed on the regulated market of the Frankfurt Stock Exchange. GraceB is a Luxembourg-based subsidiary of the Japanese building material and construction technology company Lixil. The takeover offer is related to the acquisition of the Grohe Group by GraceB which took place in September.

Weyerhaeuser's $2.7 Billion Sale of Homebuilding Business to TRI Pointe Homes

26 Nov 2013

Weyerhaeuser has announced that it has entered into a definitive agreement pursuant to which Weyerhaeuser’s homebuilding subsidiary, Weyerhaeuser Real Estate Company (“WRECO”), will be spun off or split off to Weyerhaeuser’s shareholders and, following the spin-off or split-off, will merge with a subsidiary of TRI Pointe Homes, Inc. (“TRI Pointe”) in a Reverse Morris Trust transaction. Cravath represented Weyerhaeuser in connection with this transaction.

DWF Advises on Industrial Acquisition Deal

25 Nov 2013

Tentec Limited has been acquired by Atlas Copco – one of Sweden's largest industrial companies and a leading supplier of sustainable productivity solutions within compressors, construction and mining equipment, industrial tools and assembly systems. All 65 members of staff at Tentec will retain their jobs at the company which designs, manufactures and markets bolt tightening and tensioning products for use in the global oil and gas, power generation, wind power and mining industries and had annual revenues of around £10 million last year.

DAC Beachcroft Advises on the Sale of the Entire Share Capital of The Pathology Group

25 Nov 2013

International law firm DAC Beachcroft LLP has advised the founders of leading medical recruitment business The Pathology Group on the sale of its entire share capital to a PE-backed healthcare staffing business.

The deal, which closed last month, saw a DAC Beachcroft team, led by London Corporate Partner Steven Raize, advise founders Louie Evans and Zack Feather, who set up the specialist recruitment company seven years ago.

DLA Piper advises on sale of ID&T group to SFX Entertainment

22 Nov 2013

DLA Piper advised the shareholders of ID&T on the sale of ID&T group to SFX Entertainment. SFX Entertainment has bought 75 percent of ID&T, a Dutch festival promoter, for $102 million in cash and stock. The deal, perhaps the biggest in the market so far, will give SFX a major foothold on the global festival circuit as it tries to build a $1 billion media empire centered on dance.