Manhattan duo lead GE's $12bn plastics sale
Weil Gotshal & Manges and Shearman & Sterling have bagged lead roles on the sale by General Electric (GE) of its plastics business to Saudi Basic Industries in a $11.6bn (£5.9bn) deal. Shearman advised the buyer, with firm co-managing partner John Madden and New York-based corporate partner Stephen Besen leading the team acting on behalf of Saudi.
May 22, 2007 at 11:41 AM
1 minute read
Weil Gotshal & Manges and Shearman & Sterling have bagged lead roles on the sale by General Electric (GE) of its plastics business to Saudi Basic Industries in a $11.6bn (£5.9bn) deal.
Shearman advised the buyer, with firm co-managing partner John Madden and New York-based corporate partner Stephen Besen leading the team acting on behalf of Saudi.
Weil Gotshal advised GE, having maintained its place on the US conglomerate's panel of advisers despite a re-jig earlier this year that resulted in 44 firms being ditched from the roster.
Weil Gotshal is fielding a team out of its New York hub, with firmwide M&A co-chair Howard Chatzinoff leading the team.
The deal comes with the US transactional market firing all cylinders, with both private equity and strategic investors behind the heightened activity. Other notable deals announced this month include the $27.5bn (£14bn) take-private of telecoms giant Alltel by Texas Pacific Group and the private equity arm of Goldman Sachs Group.
Cleary Gottlieb Steen & Hamilton and Wachtell Lipton Rosen & Katz landed key roles on that deal, with Cleary advising the buyer opposite its Manhattan rival.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
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.
You Might Like
View All
A&O Shearman, Hogan Lovells & 10 Top Stories That Shaped Africa in 2024
4 minute read
Christmas Mega-Deal Roundup: Direct Line, Wingstop and Foxtel Find Buyers
3 minute read
Freshfields, MoFo Act on $1.8B TOPPAN Deal As Japan's US Buying Spree Continues
Trending Stories
- 1Data Breach Lawsuit Against Byte Federal Among 1,500 Targeting Companies in 2024
- 2Counterfeiters Ride Surge in Tabletop Games’ Popularity, Challenging IP Owners to Keep Up
- 3Health Care Data Breach Class Actions Saw December Surge in NY Courts
- 4Florida Supreme Court Disbars 3, Suspends 11, Reprimands 1 in Final Disciplinary Order of 2024
- 5Chief Justice Roberts Ends Year With Defense Against 'Illegitimate' Attacks on Judiciary
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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
