US titans advise on $79bn Time Warner Cable takeover
Five firms act as Charter Communications buys TWC, while Sullivan & Cromwell bags role on separate acquisition
May 26, 2015 at 07:34 AM
2 minute read
Multiple major US firms have landed roles on Charter Communications $78.7bn (£51.1bn) merger with Time Warner Cable (TWC) announced today.
Paul Weiss Rifkind Wharton & Garrison, Latham & Watkins and Skadden Arps Slate Meagher & Flom are all advising TWC.
The Paul Weiss team included New York corporate partners Robert Schumer, Ariel Deckelbaum and Ross Fieldston.
Latham's team is being led from its Washington office by communications law partners Matthew Brill and James Barker alongside partner Michael Egge on antitrust matters.
Leading the Skadden team are New York-based M&A partners Stephen Arcano and Ann Beth Stebbins.
Wachtell Lipton Rosen & Katz is acting as counsel to Charter while Kirkland & Ellis is advising the company on financing.
Kirkland & Ellis is advising Charter with a New York team including corporate partners Jason Kanner, Christian Nagler and Nicholas Schwartz.
Some of the firms have previous connections to the parties involved in today's deal.
Paul Weiss was previously appointed to advise TWC on its spin-off from the parent company it was named after in 2009. M&A co-chair Robert Schumer led the firm's team on that transaction, alongside corporate partner Ariel Deckelbaum and employee benefits chair Robert Fleder.
In July 2014 Skadden won a top role on Rupert Murdoch's unsolicited $80bn (£46.6bn) bid to take over Time Warner, which was subsequently rejected. Skadden acted for Murdoch's 21st Century Fox.
In addition to the merger announced today, Charter is acquiring video service provider Bright House Networks for $10.4bn (£6.7bn).
Sullivan & Cromwell and Sabin Bermant & Gould are advising Bright House Networks and its parent company, Advance/Newhouse Partnership.
Sullivan & Cromwell's team included New York corporate partner Brian Hamilton alongside tax partner Ronald Creamer, executive compensation & benefits partner Matthew Friestedt and antitrust partner Yvonne Quinn.
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