May 31, 2018
Weil advised 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.
The Weil team that advised Morgan Stanley was led by Banking & Finance partner Morgan Bale and Capital Markets partners Corey Chivers and Faiza Rahman; and included M&A partner Raymond Gietz; Tax partners David Bower (Washington, D.C.) and William Horton; Litigation partner John Mastando; Banking & Finance associates Alice Pang, Catherine Kim and Glen Forster; Capital Markets associates Evan Mendelsohn, Joshua Van Kirk and Anthony Zangrillo; M&A associate Megan Briskman; Insurance associate Gabriel Gershowitz; Regulatory associate Timothy Welch (Washington, D.C.); Tax associate Liam Murphy; and Litigation associate Heather Novison Weaver (all in New York unless otherwise specified).
This transaction is the latest in a series of high profile investment grade acquisition financings Weil has been involved in. Other recent matters include representing:
- 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, and for general corporate purposes.
- 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.
- Goldman Sachs, Deutsche Bank and JPMorgan Chase, as joint lead arrangers and joint bookrunners, in a £12.2 billion bridge financing to support Twenty-First Century Fox, Inc. 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 a $3.1 billion bridge financing, and Morgan Stanley, Citi and the other underwriters in $1.3 billion and €700 million senior notes offerings by Parker Hannifin Corporation, a manufacturer of motion and control technologies and systems, to support its $4.3 billion acquisition of CLARCOR Inc., a diversified marketer and manufacturer of mobile, industrial and environmental filtration products.