December 13, 2017
A Weil team advised Goldman Sachs in providing a bridge loan commitment of up to $9 billion in connection with the announcement that Twenty-First Century Fox, Inc. intends to spin off to 21st Century Fox shareholders a portfolio of its highly-rated news, sports and broadcast businesses to create a new “Fox.”
The Weil team was led by Banking & Finance partner Morgan Bale; and included Capital Markets partner Corey Chivers; M&A partner Raymond Gietz; Tax partner Helyn Goldstein; Litigation partner Miranda Schiller; Regulatory partner Ted Posner (Washington, D.C.); Technology & IP Transactions partner Jeffrey Osterman; Antitrust partner Jeff White (Washington, D.C.); Environmental counsel John O’Loughlin (Washington, D.C.); Banking & Finance associates Justin Lee and Nick Nikic; Capital Markets associate Michael Stein; M&A associate Ariel Simon; Tax associate Liam Murphy; Regulatory associate Timothy Welch (Washington, D.C.); Technology & IP Transactions associate Mary Lentowski; and Antitrust associate Megan Granger (Washington, D.C.) (all in New York unless otherwise specified).
This transaction is the latest in a series of event-driven financings Weil has been involved in this year. Other recent matters include representing:
- Barclays, Goldman Sachs and another major financial institution, as joint lead arrangers, in $49 billion committed facilities to finance in part CVS Health Corporation’s $78 billion acquisition of Aetna Inc.
- Morgan Stanley in connection with the financing for Assurant, Inc., a global leader in risk management solutions, to support its $2.5 billion acquisition of The Warranty Group, a global provider of warranty solutions and related benefits, from TPG Capital.
- Goldman Sachs and another major financial institution, as joint lead arrangers and joint bookrunners, in a $13.7 billion committed unsecured bridge facility to finance Amazon’s acquisition of Whole Foods Market.
- Morgan Stanley as sole lead arranger and sole lead bookrunner in a $4.5 billion committed bridge facility, and as lead arranger and bookrunner in $3.3 billion term and revolving facilities, and Morgan Stanley, J.P. Morgan and another major financial institution as representatives of the underwriters in a $2.75 billion senior notes offering by Tyson Foods, Inc. to finance its $4.2 billion merger with AdvancePierre Foods Holdings, Inc., a producer and distributor of ready-to-eat sandwiches, sandwich components and other entrées and snacks.
- Citi, as sole lead arranger and sole lead bookrunner in a $15.7 billion committed bridge facility, and as lead arranger and bookrunner in $4.5 billion term and revolving working capital facilities, for Becton, Dickinson and Company (BD), a medical technology company, to support BD's $24 billion acquisition of C. R. Bard Inc., a medical equipment maker specializing in the manufacture of vascular, urology, oncology, and surgical specialty products.