Deal Watch: Davis Polk, Jones Day Take Lead on Latest Chipmaker Match
Microchips, airport services, rental properties and baby formula make up the latest batch of billion-dollar deals fueling the corporate coffers of global firms.
September 24, 2015 at 02:15 PM
4 minute read
It's crunch time for another pair of chipmakers. London-based Dialog Semiconductor has agreed to acquire San Jose, California-based Atmel Corp. in a $4.6 billion cash-and-stock deal that comes amid an industrywide consolidation spree.
Davis Polk & Wardwell has taken the lead on the transaction for Dialog, while Jones Day is advising Atmel. German firm Gleiss Lutz and British firm Reynolds Porter Chamberlain are also representing Dialog, with Shearman & Sterling snagging a role for Qatalyst Partners as financial adviser to Atmel, as noted by sibling publication The Recorder. Skadden, Arps, Slate, Meagher & Flom is representing Morgan Stanley on the deal's financing.
Dialog's play for Atmel closely follows Singapore-based Avago Technologies' $37 billion buy of Irvine, California-based Broadcom and San Jose-based Altera Corp.'s $16.7 billion sale to Santa Clara, California-based Intel Corp., announced at the end of May and beginning of June, respectively. Davis Polk also scored roles on those transactions—advising Broadcom's board of directors and JPMorgan Chase as financial adviser to Intel—as did Skadden, which took the lead for Broadcom.
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