Quartet of law firms advise on Siemens' $7.6bn US buy out
Gibson Dunn & Crutcher, Wachtell, Lipton, Rosen & Katz, Baker Botts and Latham & Watkins have secured roles on Siemens' $7.6bn (£4.65bn) purchase of US oil-field equipment giant, Dresser-Rand.
September 23, 2014 at 07:31 PM
2 minute read
Gibson Dunn & Crutcher, Wachtell, Lipton, Rosen & Katz, Baker Botts and Latham & Watkins have secured roles on Siemens' $7.6bn (£4.65bn) purchase of US oil-field equipment giant Dresser-Rand.
Siemens is paying $83 (£50.6) per share for the company in a bid which was "unanimously supported by Dresser-Rand's board of directors".
Dresser-Rand turned to Gibson Dunn, Baker Botts and Wachtell for legal advice, with all three fielding US-led teams.
The team from Gibson Dunn is headed by corporate partners Beau Stark and Dennis Friedman.
Wachtell is advising on the corporate, tax and antitrust aspects of the deal. New York based corporate partners Daniel Neff and Gregory Ostling join antitrust partner Joseph Larson and tax partner T. Eiko Stange to advise the Texan company.
In addition, Baker Botts is providing legal counsel to Dresser-Rand on anti-trust aspects with a team led by Washington partners Sean Boland and Paul Cuomo. Brussels based partner Paul Lugard is also advising on the deal.
Siemens is receiving advice from Latham & Watkins with a trans-Atlantic corporate team including Munich partners Joerg Kirchner and Volkmar Bruckner and New York partners M. Adel Aslani-Far and Eli Hunt.
Siemens' in-house team was comprised of general counsel Andreas Hoffman and chief counsel, Anton Steiger.
The deal is expected to close in the summer of 2015, subject to the approval of Dresser-Ranch shareholders.
Morgan Stanley and Zaoui & Co. are acting as financial advisors to Dresser-Rand with both receiving legal advice from their respective in-house teams.
Siemens has turned to longstanding financial adviser Goldman Sachs, alongside Deustche Bank.
Last year Siemens cut down its UK legal panel to three firms, with Osborne Clarke and Eversheds receiving new appointments and Reed Smith retaining its role.
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