Macfarlanes and Slaughters advise alongside US M&A heavyweights as GKN seals $6.1bn Dana deal
The offer follows Melrose's rejected bid for GKN's automotive business earlier this year
March 09, 2018 at 08:22 AM
2 minute read
Macfarlanes has won a role advising US car parts maker Dana on its $6.1bn (£4.4bn) bid to combine with FTSE 100 engineering business GKN.
The bid, announced by Dana this morning, comprises $1.6bn (£1.2bn) in cash, $1bn (£700m) of net pension liabilities, and new Dana shares issued to GKN's shareholders, valued at approximately $3.5bn (£2.5bn).
Ohio-based Dana is seeking to merge with GKN's automotive business.
Macfarlanes London corporate partners Graham Gibb and Richard Burrows are advising Dana.
The firm joins a lineup of elite corporate firms advising on the deal. Macfarlanes is advising Dana alongside Paul Weiss Rifkind Wharton & Garrison New York partner Tarun Stewart.
Cravath Swaine & Moore has also been drafted in to advise GKN, with its team led by corporate partners Richard Hall, George Schoen and Jenny Hochenberg.
The US firm is advising alongside Slaughter and May, which is fielding a team including corporate partners Martin Hattrell and Rob Innes.
Slaughters also acted for GKN earlier this year when it rejected a £7bn offer from manufacturing turnaround specialist Melrose. Its team on that deal was led by M&A head Roland Turnill.
Meanwhile, US heavyweight Skadden Arps Slate Meagher & Flom is advising Dana's board of directors.
Previously, Simpson Thacher represented Melrose on its failed bid, with London M&A partners Adam Signy and Ben Spiers leading its team.
Macfarlanes is currently advising private equity firm Epiris on its purchase of Time Inc's UK magazine business. M&A partner Stephen Drewitt and banking partner Kirstie Hutchinson are leading the firm's team.
Earlier today, the elite City firm hired Eversheds corporate crime and investigations head Neill Blundell to launch a white-collar practice.
This content has been archived.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
Ropes & Gray, Willkie Farr, KWM, Dechert Act on Xerox's $1.5B Buy in China
Freshfields, MoFo Act on $1.8B TOPPAN Deal As Japan's US Buying Spree Continues
Cox & Palmer to Merge with Benson Buffett in St. John’s, Canada’s Easternmost City
2 minute read
Trending Stories
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
