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Mid-Level Deal Roundup: Goodwin, Kirkland, Pepper Hamilton Land Assignments
03-07-2011
Tagged Under : Deal, Deal Roundup
Am Law 200 firms have advised over the past couple weeks on several M&A deals that may not have topped the billion-dollar mark, but nontheless kept plenty of transactional lawyers busy. Notable recent deals–and the firms that landed the assignments–include:
–Kirkland & Ellis, Hogan Lovells among firms on Fundtech’s $700 million merger with S1 Corporation
Financial-service and software providers S1 Corporation and Fundtech announced a merger agreement Monday in a stock-for-stock deal estimated to be worth $700 million.
Under the terms of the deal, S1 shareholders will control roughly 55 percent of the combined company, with the remaining 45 percent going to Fundtech shareholders. The newly merged entity–to be headquartered at S1′s current home base in Atlanta–will be known as Fundtech.
Tel Aviv-based Fundtech had outside legal representation from Kirkland & Ellis, Kramer Levin Naftalis & Frankel, and Israel-based Meitar Liquornik Geva & Leshem Brandwein.
Kirkland’s team was led by New York partners David Fox and William Sorabella, with assistance from partner Christian Nagler, also in New York.
Kramer Levin’s team consisted of New York partners Abbe Dienstag, Scott Rosenblum, and Richard Gilden. Fundtech’s in-house counsel, Joseph Aulenti, also assisted on the deal.
Israel-based Zellermayer Pelossof’s team was led by partners Michael Zellermayer and Lior Oren. S1′s chief legal officer Gregory Orenstein also assisted on the deal.
The merger is expected to close by the end of the year.
–Pepper Hamilton, Jones Day advise in Carpenter Technology’s acquisition of Latrobe Metals
Carpenter, a Wyomissing, Pa.-based stainless steel and specialty alloy manufacturer, will offer the company’s current owners $388 million worth of stock and $170 million cash to cover Latrobe Metals’ outstanding debts. Latrobe produces high-performance alloys for the aerospace, defense, and energy industries.
Latrobe Metals was represented by a Jones Day team led by M&A partner Scott Cohen in Dallas. The team also included M&A partners Mark Goglia in Dallas and James Dougherty in Cleveland. Jones Day previously represented Latrobe Metals’ former owners the Timken Company when it sold Latrobe to Hicks Equity and the Watermill Group in 2006.
Carpenter Technology’s outside representation came from Pepper Hamilton. The firm did immediately respond to a request for information about which of its lawyers had and hand in the deal.
The deal is expected to close by September 30, according to Bloomberg Businessweek.
–Goodwin Procter, O’Melveny & Myers advise as Ansys buys Apache for $310 million
Privately held Apache had filed for a $75 million public offering in March, according to Reuters. According to a company statement, Ansys was attracted to Apache’s software, which is used to design energy efficient devices.
Apache was represented by an O’Melveny & Myers team led by partner Warren Lazarow of the firm’s Menlo Park, Calif., office. Assisting on the deal were partners Brian Covetta, Robert Fisher, and Eric Amdursky, also in Menlo Park, and partner Jeffrey Walbridge, in the Newport Beach, Calif., office. Lazarow has advised Apache since the company’s incorporation in 2001.
The deal is expected to close sometime in the third quarter of 2011.
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