Gibson Dunn wins Serena on £206m Merant deal
Legal Week reports
March 17, 2004 at 07:03 PM
2 minute read
Gibson Dunn & Crutcher's London office has scooped US-based Serena Software as a new client by advising the software specialist on its £206m cross-border merger bid for UK company Merant.
The offer sees NASDAQ-listed software specialist Serena offer £136.5p in cash and 0.05 of new shares in Serena for each share in London-listed Merant in a rare example of a US-to-UK cash and stock offer.
The Gibson Dunn team was led by US-qualified partner Kenneth Lamb and UK-qualified partner Judith Shepherd, both of whom are based in the US giant's 25-lawyer City practice.
The deal, backed by the management of both companies, would create the world's second largest management software business with almost 900 employees.
The Los Angeles-based firm won the role ahead of Serena's traditional adviser, West Coast leader Wilson Sonsini Goodrich & Rosati which does not have a presence out-side of the US, because Gibson Dunn could provide both a US and UK law capacity.
Merant were advised by Macfarlanes corporate partners Simon Martin and Mary Leth, with Hogan & Hartson representing the company on US aspects through Baltimore-based partner Michael Silver and London partner John Basnage.
Merant's financial adviser was UBS Investment Bank, represented by Linklaters. Serena's financial adviser was Lehman Brothers, which used its in-house legal team.
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