Freshfields, Dentons lead on Toon takeover bid
Freshfields Bruckhaus Deringer and Denton Wilde Sapte has bagged lead roles on the latest takeover attempt at a major English football club, as billionaire Mike Ashley prepares a £133m offer for Newcastle United. Freshfields corporate partner Christopher Mort led a team advising Ashley on his acquisition of a 41.6% stake in the club from Newcastle United president Sir John Hall. Ashley bought the stake through special-purpose vehicle St James' Holdings for £55m, it was announced yesterday (23 May).
May 24, 2007 at 08:54 AM
2 minute read
Freshfields Bruckhaus Deringer and Denton Wilde Sapte has bagged lead roles on the latest takeover attempt at a major English football club, as billionaire Mike Ashley prepares a £133m offer for Newcastle United.
Freshfields corporate partner Christopher Mort led a team advising Ashley on his acquisition of a 41.6% stake in the club from Newcastle United president Sir John Hall. Ashley bought the stake through special-purpose vehicle St James' Holdings for £55m, it was announced yesterday (23 May).
Ashley, who owns Sports Direct – the group which includes Sports World and Lillywhites – now has 28 days to make a bid for the club's remaining share capital.
Dentons advised the vendors – regular clients Wynyard, Cameron Hall Developments and Cameron Hall Developments Ltd Executive Pension Scheme, all of which are owned by the family of Sir John Hall. Corporate partner Jeremy Cohen led the team for Dentons, assisted by Dubai-based corporate partner Neil Nicholson.
Ashurst corporate partner Robert Ogilvy Watson, assisted by corporate associate Tom Mercer, advised longstanding client Kaupthing Singer & Friedlander, which provided financial advise to the acquisition vehicle.
Commenting on the deal, Cohen said: "This was an excellent opportunity for us to showcase our M&A capabilities in what has been an exciting and high-profile transaction."
The deal comes after Dentons was instructed on Sheffield United's ongoing battle with the FA Premier League over West Ham United's punishment for irregularities in the transfer of Carlos Tevez.
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