Wachtell, K&E and Paul Weiss help serve up Burger King's $11.4bn coffee deal
US heavyweights Kirkland & Ellis and Wachtell Lipton Rosen & Katz are among the law firms to have taken roles on Burger King's $11bn acquisition of coffee-and-doughnut chain Tim Hortons.
August 26, 2014 at 07:08 PM
2 minute read
US heavyweights Kirkland & Ellis and Wachtell Lipton Rosen & Katz are among the law firms to have taken roles on Burger King's $11bn (£6.6bn) acquisition of coffee-and-doughnut chain Tim Hortons.
The deal, announced yesterday (26 August), will create an $18bn (£10.9bn) company and sees Burger King relocate its headquarters to Canada – the latest example of a high-profile US company pushing ahead with a corporate tax inversion.
Kirkland has taken the lead advisory role for Burger King, with corporate partners Stephen Fraidin, William Sorabella and David Feirstein heading a New York-based team that included debt finance partner Jay Ptashek and capital markets partners Joshua Korff and Michael Kim.
In the Kirkland team, M&A tax partner Dean Shulman – who recently joined Kirkland from Skadden Arps Slate Meagher & Flom – also took a lead role, alongside Chicago-based tax partner Mike Carew.
The fast food chain also turned to 'seven sisters' firm Davies Ward Phillips & Vineberg for corporate advice on Canadian law, and Paul Weiss Rifkind Wharton & Garrison, which advised on tax matters, with practice co-chair Jeffrey Samuels leading, assisted by counsel Alyssa Wolpin in New York.
Tim Hortons has instructed Wachtell for US legal matters, as well as long-running Canadian legal counsel Osler Hoskin & Harcourt.
Wachtell's team is being led by corporate partners Adam Emmerich and Gordon Moodie, alongside antitrust partner Nelson Fitts, exceutive compensation partner Michael Segal, finance partner Eric Rosof and tax partner Jodi Schwartz.
Osler is fielding a team headed by the firm's Toronto-based vice-chair Clay Horner, alongside M&A partner Doug Bryce, competition partner Michelle Lally, corporate partner Don Gilchrist and tax partners Dov Begun and Patrick Marley. Banking partner Laurie Barrett and pensions partner Doug Rienzo also took roles on the deal.
Burger King financial adviser Morgan Stanley turned to Weil Gotshal & Manges.
Both Kirkland's Fraidin and Sorabella previously advised private equity client 3G Capital Partners in its $4bn (£2.4bn) acquisition of Burger King Holdings in 2010, as well as the company's public re-listing and combination with Justice Holdings Limited in 2012.
The 3G deal in 2010 also saw roles awarded to a Skadden team headed by global transactions co-head Eileen Nugent.
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