Weil – Maple Group Makes $3.7 Billion Takeover Bid for TMX

Weil, Gotshal & Manges represents the Maple Group Acquisition Corp., a consortium of Canadian financial institutions, broker-dealers, and investment funds, in its $3.7 billion hostile takeover bid for TMX Group Inc., the owner and operator of the Toronto Stock Exchange, Canada’s largest stock exchange. The bid, launched today, offers C$48 per share for 70 percent of TMX’s outstanding shares. The deal would also include a court-approved plan that would give unaffiliated shareholders 40% of Maple shares in exchange for their remaining TMX stock.

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Tags:  Weil, Gotshal & Manges, LLP

King & Spalding Advises Roark Capital in Acquisition of Arby’s

King & Spalding advised Roark Capital Group in the acquisition of the Arby’s restaurant chain from Wendy’s/Arby’s Group, Inc. The aggregate transaction value is estimated to be $430 million. The terms of the agreement provide for Wendy’s/Arby’s Group to receive at closing approximately $130 million of cash, subject to customary adjustments, and retain an 18.5 percent common stock interest in the Arby’s business expected to be valued at $30 million. The buyer will assume approximately $190 million of Arby’s-related debt, consisting primarily of capital lease and sale-leaseback obligations.

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Tags:  King & Spalding LLP

Ashurst Advises ERG SpA on Joint Venture with Lukoil

Ashurst has advised the Italian company ERG Renew SpA on the drafting of arrangements and negotiation of terms of its joint venture with Lukoil, Russia’s largest oil company. The joint venture between ERG Renew and Lukoil will see the two parties pursuing the development of renewable energy projects in Eastern Europe and Russia.

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Tags:  Ashurst