Recent Transactions

18-Jan-05
$2.3 billion
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Target: 

MeadWestvaco Corporation

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Acquiror: 
Cerberus Capital Management, L.P.

/ Papers Business
Provided fairness opinion to the Board of Directors of MeadWestvaco Corporation on the sale of its Papers business and associated assets to Cerberus Capital Management, L.P

26-Aug-04
$1.2 billion
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Target: 

Dresser-Rand Co.

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Acquiror: 
First Reserve Corporation

(subsidiary of Ingersoll-Rand Co.) Advised Ingersoll-Rand Company on the divestiture of its Dresser-Rand business unit, a supplier of steam and gas turbines, for $1.2 billion to First Reserve Corporation.

15-Jul-03
$1.1 billion
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Target: 

Loral Space and Communications Ltd.

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Acquiror: 
Intelsat Ltd.

Advised Loral with its Chapter 11 proceedings. Advised on the sale of its North American Fixed Satellite Services assets to Intelsat for $1.1 billion

25-Apr-03
$20.8 billion
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Target: 

AMR Corporation

Advised AMR, parent of American Airlines, on strategic alternatives and implementation of a historic out-of-court restructuring through which a variety of stakeholder concessions were achieved, averting bankruptcy

09-Aug-02
$17.6 billion
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Target: 

Adelphia Communications

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Acquiror: 
Time Warner Inc. and Comcast Corp.

Advised the Unsecured Creditors of Adelphia Communications representing $14.5 billion of value in Adelphia’s Chapter 11 proceedings. Advised on the sale of Adelphia’s assets to Time Warner and Comcast for $17.6 billion

14-Oct-01
$4.5 billion (Liabilities)
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Target: 

Bethlehem Steel Corporation

Advised Bethlehem Steel Corp., the United States third largest steel producer, in connection with its Chapter 11 proceedings and eventual sale to International Steel

29-Aug-01
$5.9 billion
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Target: 

Westvaco Corporation

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Acquiror: 
The Mead Corporation

Advised Westvaco Corporation, a packaging and paper products company, on its merger-of-equals with The Mead Corporation

16-Jul-01
$982 million
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Target: 

Sterling Chemicals

Advised Sterling Chemicals in connection with its Chapter 11 proceedings

17-Feb-00
$866 million
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Target: 

Shorewood Packaging Corporation

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Acquiror: 
International Paper Company

Advised Shorewood on its successful hostile takeover defense from Chesapeake Corp., achieving a $21.00 friendly cash offer from an original $17.25 hostile bid.

04-Oct-99
$23.5 billion
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Target: 

AMFM, Inc.

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Acquiror: 
Clear Channel Communications, Inc.

Advised AMFM on the sale of the company to Clear Channel Communications to form the largest US radio company

18-Feb-97
$1.1 billion
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Target: 

Viacom Inc.

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Acquiror: 
Chancellor Broadcasting

- various radio assets
Advised Chancellor in the purchase of Viacom’s radio assets

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