Paul Weiss Scores Lead Role on IBM's $33B Red Hat Buy
A handful of large law firms—but not Cravath—are advising on the largest acquisition ever of a software company.
October 29, 2018 at 08:40 PM
8 minute read
International Business Machines Corp. announced Sunday its $33.4 billion purchase of open source software company Red Hat Inc. The megadeal, which could change the face of cloud computing, is the largest ever acquisition of a software company and the third-largest ever in the technology sector, according to news reports.
Aside from its size and scope, the tie-up between IBM and Red Hat also has M&A lawyers talking about the outside legal advisers retained to pull off the deal, which both companies do not expect to be completed until the latter half of 2019.
Paul, Weiss, Rifkind, Wharton & Garrison is serving as lead M&A and finance counsel to IBM, while Hogan Lovells is advising the Armonk, New York-based technology giant on antitrust matters. Raleigh, North Carolina-based Red Hat has turned to Skadden, Arps, Slate, Meagher & Flom and Debevoise & Plimpton is representing Guggenheim Partners LLC and Morgan Stanley & Co. LLC in their roles as financial adviser to the target. Securities filings show that Simpson Thacher & Bartlett is working on financing for the deal arranged by JPMorgan Chase & Co. and The Goldman Sachs Group Inc.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250