18 Oct 2017 | 01:08 pm |
International Law firm Pinsent Masons has advised IP Group plc on its £490m hostile takeover of rival science investor Touchstone Innovations plc., a complex and challenging transaction which values the combined group at £1.3 billion. The offer was declared unconditional in all respects on 18 October.
Each Touchstone shareholder will receive 2.2178 new IP Group shares for each Touchstone share, meaning Touchstone shareholders will own approximately 34 percent of the combined group.
FTSE 250 listed IP Group, invests in technology and research generated at universities. The acquisition of Touchstone will see the combined group become an international leader in IP commercialisation.
The team advising IP Group was led by Corporate partner Russell Booker supported by senior associates Adam Cain and Sandra Plantier. Other key members of the transaction team were Christina Cooke and Trudy Dargeviciute alongside Guy Lougher and Paul Williams in the competition team and Lynette Jacobs, Suzannah Crookes and Stacey Callaghan who provided advice from an incentives perspective.
Commenting on the deal Russell Booker said:
"This was a highly complex deal which again demonstrates our ability to undertake high-value, sophisticated public M&A transactions."
"We have acted for IP Group since its inception in 2001 and our knowledge of the client and the sector has been a real asset for this transactions. We are very pleased to have assisted IP Group on this landmark transaction, which marks an important milestone in the company's development as it seeks to drive innovation across the sector and become a leader in IP commercialisation.”
Pinsent Masons also advised IP Group on their £207m capital raise earlier this year.
Multinational law firm Pinsent Masons has advised listed European life and pensions consolidator Chesnara plc on its proposed £260 million acquisition of HSBC Life (UK) Limited from HSBC Bank plc.
Multinational law firm Pinsent Masons has advised on the creation of a major delivery alliance for the Sizewell C nuclear power station in Suffolk, supporting the formation of a new alliance between Sizewell C and three leading construction firms.
Multinational law firm Pinsent Masons has advised Tokai Carbon Co., Ltd. (“Tokai Carbon”) on the sale of its German subsidiary TOKAI ERFTCARBON GmbH (“TEG”), to Lenbach Equity Opportunities III. GmbH & Co. KG, which is exclusively advised by DUBAG Investment Advisory GmbH (“DUBAG”).
Multinational law firm Pinsent Masons has advised listed European life and pensions consolidator Chesnara plc on its proposed £260 million acquisition of HSBC Life (UK) Limited from HSBC Bank plc.
Multinational law firm Pinsent Masons has advised Tokai Carbon Co., Ltd. (“Tokai Carbon”) on the sale of its German subsidiary TOKAI ERFTCARBON GmbH (“TEG”), to Lenbach Equity Opportunities III. GmbH & Co. KG, which is exclusively advised by DUBAG Investment Advisory GmbH (“DUBAG”).
Multinational law firm Pinsent Masons has advised the shareholders of independent financial advisory and wealth management firm Shackleton, including the private equity buy-and-build specialist Sovereign Capital Partners, on the exit to Lee Equity Partners.
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