December 15, 2016
Weil represented Goldman Sachs Bank USA, Deutsche Bank Securities Inc. and JPMorgan Chase Bank in providing up to £12.2 billion bridge financing for Twenty-First Century Fox, Inc.’s acquisition of the share capital of Sky plc that is does not already own.
The Weil team advising Goldman Sachs, Deutsche Bank and JPMorgan Chase is led by Banking & Finance partner Morgan Bale; and includes Banking and Finance partner Chris McLaughlin (London); M&A senior consultant Ian Hamilton (London); Capital Markets partners Corey Chivers and Faiza Rahman; Tax partners Larry Horton and Mark Schwed; M&A partner Michael Francies (London); Regulatory counsel John O’Loughlin (Washington D.C.); Banking & Finance associates Justin Lee, Alison Carrizales, Nick Krendel (London), and Mae Morter (London); Capital Markets associates Ashley Butler and Beth Palkovic (not yet admitted to practice); Tax associate Emily Cummins (not yet admitted to practice); and Regulatory associate Tim Welch (Washington D.C.) (all in New York unless otherwise specified).
This transaction is the latest in a series of high profile investment grade bridge financings Weil has been involved in. Other recent matters include representing:
- Morgan Stanley in committed financing to support the $4.3 billion acquisition by Parker Hannifin Corporation, a manufacturer of motion and control technologies and systems, of CLARCOR Inc., a diversified marketer and manufacturer of mobile, industrial and environmental filtration products.
- Goldman Sachs in an $8 billion committed bridge facility to finance the $12.2 billion cash and stock acquisition by Great Plains Energy Incorporated, a provider of electricity in the Midwest United States, of Westar Energy Inc., at the time the largest electric utility in Kansas.
- RBC Capital Markets and Mizuho Bank in providing committed bridge financing for the approximately $4.4 billion combination of Dominion Resources, Inc., one of the largest producers and transporters of energy in the United States, and Questar Corporation, a natural gas distribution, pipeline, storage and cost-of-service gas supply company based in Salt Lake City, Utah.
- Goldman Sachs in a $4.2 billion committed bridge facility to Lam Research Corporation, a global supplier of wafer fabrication equipment and services to the semiconductor industry, to finance its acquisition of all of the outstanding shares of KLA-Tencor, a provider of process control and yield management solutions to develop state-of-the-art inspection and metrology technologies.