June 07, 2017
Weil advised Morgan Stanley in providing fully committed bridge financing to Tyson Foods for its $4.2 billion acquisition of AdvancePierre Foods, a producer and distributor of value-added, convenient, ready-to-eat sandwiches, sandwich components and other entrées and snacks to a wide variety of distribution outlets including foodservice, retail and convenience store providers.
The Weil team that advised Morgan Stanley was led by Banking & Finance partner Morgan Bale and Capital Markets partner Faiza Rahman; and included M&A partner Raymond Gietz; Banking & Finance associates Jacqueline Oveissi and Catherine Kim; Capital Markets associates Daniel Evens and Claire Logan; M&A associate Jesse Sacks; and Regulatory associate Timothy Welch (Washington, D.C.)(all in New York unless otherwise specified).
This transaction was the latest in a series of high profile investment grade bridge financings Weil has been involved in. Other recent matters include representing:
- Citi in committed financing to support the $24 billion acquisition by Becton Dickinson, a leading global medical technology company, of C.R. Bard, Inc., a medical technology leader in the fields of vascular urology, oncology and surgical specialty products.
- Goldman Sachs, Deutsche Bank and JPMorgan Chase, as joint lead arrangers and joint bookrunners, in £12.2 billion bridge financing to support Twenty-First Century Fox, Inc., a producer and distributor of motion pictures and television programming, music, radio broadcasting, and sports, in its pending approximately £11.7 billion acquisition of all the share capital it does not already own of Sky plc (United Kingdom), a provider of a pay television broadcasting services across Europe and, in addition, of broadband and telephone services in the United Kingdom and the Republic of Ireland.
- 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 $15 billion cash and stock acquisition by Great Plains Energy Incorporated, a provider of electricity in the Midwest United States, of Westar Energy Inc.
- 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.