Davis Polk is advising both Citi and Morgan Stanley as joint financial advisers to Eaton Corporation in connection with its $11.8 billion acquisition of Cooper Industries plc. The transaction was unanimously recommended by the boards of directors of both companies and is subject to the receipt of certain regulatory approvals and certain other conditions. The transaction is expected to close in the second half of 2012.
Eaton is a Cleveland, Ohio-based electrical business in power distribution, power quality, control and automation, power monitoring, and energy management products and services. Cooper is an Irish incorporated supplier of electrical equipment with a wide range of electrical products including electrical protection, power transmission and distribution, lighting and wiring components.
The Davis Polk corporate team advising Citi includes partner Leonard Kreynin and associate Kristen L. Haase. Partner Michael Mollerus is providing tax advice.
The Davis Polk corporate team advising Morgan Stanley includes partner Phillip R. Mills and associate Jason Mehar. Partner Neil Barr and Kay Ng are providing tax advice.
All members of the Davis Polk teams are based in the New York office.
