Dechert is representing Edgen Group Inc. in its sale to Sumitomo Corporation, which was disclosed today. The two companies have announced the signing of a definitive merger agreement whereby Sumitomo will acquire all outstanding shares of Edgen Group Inc. for US$12.00 per share in cash (“acquisition”). The acquisition, which is expected to close before the end of 2013, is subject to customary closing conditions and regulatory approvals and is estimated at $1.2 billion. Edgen is a leading global supplier of specialized products for worldwide energy and infrastructure markets.
The Dechert team advising Edgen includes corporate partners Carmen Romano and Eric Siegel and associates Anthony Lagreca and Allyson Levy.
For more information, see the 8K and the press release.
