Recent Transactions

11-Dec-12
$51.6 billion
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Target: 

American International Group (AIG)

Advised the United States Department of the Treasury (“UST”) on the full reduction of its 92% ownership stake in the insurer through numerous Secondary Public Offering Transactions

16-Apr-07
$25.0 billion
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Target: 

SLM Corporation

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Acquiror: 
J.C. Flowers, Friedman Fleischer & Lowe, Bank of America and JPMorgan Chase

Advised the Transaction Committee of the Board of Directors of SLM Corporation, commonly known as Sallie Mae, on the sale to a consortium consisting of J.C. Flowers, Friedman Fleischer & Lowe, Bank of America and JPMorgan Chase

30-Mar-07
$24.4 billion
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Target: 

Alliance Boots plc

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Acquiror: 
Kohlberg Kravis Roberts & Co. Ltd. and Stefano Pessina

Advised Alliance Boots plc, the leading international pharmacy-led health and beauty group, on a proposal regarding an offer for the company from a consortium comprising of Kohlberg Kravis Roberts & Co. Ltd. and Stefano Pessina

17-Oct-05
$16.8 billion
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Target: 

Refco

Acted as the exclusive financial advisor to Refco Inc. in connection with its Chapter 11 proceedings which included the sale of substantially all of the assets of Refco's regulated commodities futures business to Man Financial for $1.2 billion

25-Feb-10
$14.4 billion
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Target: 

Coca-Cola Enterprises Inc.

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Acquiror: 
The Coca-Cola Company

Advised the Affiliated Transaction Committee of Coca-Cola Enterprises Inc. on the sale of its North American bottling operations to The Coca-Cola Company and on its concurrent acquisition of The Coca-Cola Company’s bottling operations in the Nordic region

18-Mar-03
$7.0 billion
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Target: 

Wella AG

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Acquiror: 
The Procter & Gamble Company

Advised Wella AG, a global market leader in hair care and fragrances, on its sale to The Procter & Gamble Company

03-Aug-06
$6.0 billion
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Target: 

Reckson Associates Realty Corporation

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Acquiror: 
SL Green Realty Corporation

Advised the independent directors of Reckson, a real estate investment trust specializing in properties located in New York City and the surrounding Tri-State area, on the sale of Reckson to SL Green

30-May-07
$5.3 billion
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Target: 

Ceridian Corporation

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Acquiror: 
Thomas H. Lee Partners and Fidelity National Financial

Acted as sole financial adviser to Ceridian Corporation, an information services provider to the human resource, transportation and retail markets, on its sale to Thomas H. Lee Partners and Fidelity National Financial

20-Apr-17
$4.3 billion
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Target: 

Brookfield Canada Office Properties

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Acquiror: 
Brookfield Property Partners L.P.

Advised the Special Committee of Brookfield Canada Office Properties, Canada’s pre-eminent office real estate investment trust, on its go private transaction with Brookfield Property Partners L.P.

29-Aug-04
$3.8 billion
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Target: 

LNR Property Corporation

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Acquiror: 
Cerberus Capital Management, L.P.

Advised the Special Committee of the Board of Directors and the Board of Directors of LNR Property Corporation, one of the US’ leading real estate investment, finance and management companies, on its sale to Cerberus Capital Management, L.P. and its real estate affiliate, Blackacre Institutional Capital Management, LLC

23-Oct-03
$3.1 billion
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Target: 

Debenhams plc

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Acquiror: 
Baroness Retail (a consortium of CVC, TPG and Merrill Lynch)

Advised the independent committee of the Board of Directors of Debenhams plc, a leading UK department store chain, with regards to the sale of the company

09-Jan-18
$3.1 billion
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Target: 

Pure Industrial Real Estate Trust

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Acquiror: 
Blackstone Property Partners

Advised the Special Committee of the Board of Trustees of Pure Industrial Real Estate Trust ("PIRET"), the largest pure-play industrial REIT in Canada, regarding the acquisition of PIRET by Blackstone Property Partners

23-Apr-08
$2.8 billion
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Target: 

Wendy's International, Inc.

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Acquiror: 
Triarc Companies, Inc.

Advised the special committee of the board of directors in connection with its merger with Triarc Companies, Inc., the operator of the Arby’s franchise. The combined systems will have approximately 10,000 restaurant units and pro forma annual system sales of approximately $12.5 billion, positioning it as the nation’s third largest quick service restaurant company

12-Jul-21
Pending
$1.7 billion
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Target: 

Tate & Lyle PLC’s Primary Products business in North America and Latin America (50% stake)

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Acquiror: 
KPS Capital Partners

Advising Tate & Lyle PLC, a leading UK-based global provider of food and beverage ingredients and solutions, on its sale of a controlling stake in its Primary Products business in North America and Latin America

27-Sep-12
$1.5 billion
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Target: 

The Hartford’s Individual Life Insurance Business

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Acquiror: 
Prudential Financial, Inc.

Advised The Hartford, a leading provider of insurance and wealth management services, on the divestiture of its Individual Life Insurance Business to Prudential Financial, Inc.

08-Aug-16
$1.5 billion
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Target: 

Whistler Blackcomb Holdings Inc.

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Acquiror: 
Vail Resorts, Inc.

Advised Whistler Blackcomb Holdings Inc., a 75% owner and operator of the largest and most visited mountain resort in North America, on its sale to Vail Resorts, Inc.

20-Apr-05
$1.4 billion
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Target: 

Archipelago Holdings Inc

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Acquiror: 
New York Stock Exchange

Provided financial advisory services and a fairness opinion to Archipelago Holdings, Inc. in its definitive merger agreement with the NYSE to create the NYSE Group, Inc

09-Sep-05
$1.0 billion
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Target: 

7-Eleven, Inc.

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Acquiror: 
Seven-Eleven Japan Co., Ltd

Advised the special committee of 7-Eleven, Inc. in connection with its evaluation of an unsolicited tender offer commenced by Seven-Eleven Japan Co., Ltd

16-Mar-16
$942 million
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Target: 

Rofin-Sinar Technologies, Inc.

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Acquiror: 
Coherent, Inc.

Advised Rofin-Sinar Technologies, Inc., a leading manufacturer of industrial laser sources and laser-based solutions and components, on its sale to Coherent, Inc., a leading provider of lasers and laser-based technology for scientific, commercial and industrial customers

02-Jul-20
$890 million
Target: 

Brookfield Property Partners L.P.

Acquiror: 
Brookfield Asset Management Inc.

Advised the Special Committee of Brookfield Property Partners L.P., one of the world’s premier commercial real estate companies, on its repurchase of up to $890 million of publicly held units, funded with an equity investment from Brookfield Asset Management and its affiliates

11-Dec-12
$862 million
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Target: 

TNS, Inc.

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Acquiror: 
Siris Capital Group

Advised the Special Committee of the Board of Directors of TNS, Inc., a leading global provider of data communications and interoperability solutions, on its sale to Siris Capital Group, a private equity firm focused on complex, control equity investments in the telecom, technology and technology-enabled business service sectors

09-May-11
$843 million
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Target: 

The Forzani Group Ltd.

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Acquiror: 
Canadian Tire Corporation, Limited

Advised The Forzani Group Ltd., Canada's largest national retailer of brand-name and private-brand sporting goods, apparel and footwear, on its sale to Canadian Tire Corporation, Limited

30-Oct-12
$834 million
U.S.A., Guernsey flags
Target: 

Investments of AP Alternative Assets, L.P.

U.S., Bermuda flags
Acquiror: 
Athene Holding Ltd.

Advised the Special Committee of the Conflicts Committee of the Board of Directors of Athene Holding Ltd. in connection with the purchase of non-cash investment assets of AP Alternative Assets L.P.

20-Feb-15
$800 million
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Target: 

GFI Group Inc.

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Acquiror: 
BGC Partners, Inc.

Advised the Special Committee of GFI Group Inc. on its sale to BGC Partners, Inc.

04-Sep-12
$600 million
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Target: 

The Hartford’s Retirement Plans Group

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Acquiror: 
Massachusetts Mutual Life Insurance Company

Advised The Hartford, a leading provider of insurance and wealth management services, on the divestiture of its Retirement Plans Group to Massachusetts Mutual Life Insurance Company, a leading mutual life insurance company

10-Aug-09
$596 million
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Target: 

Barnes & Noble College Booksellers, Inc.

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Acquiror: 
Barnes & Noble, Inc.

Advised the Special Committee of the Board of Directors of Barnes & Noble, Inc., the world’s largest bookseller, on its acquisition of Barnes & Noble College Booksellers, Inc.

10-Mar-10
$576 million
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Target: 

Camelot Group plc

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Acquiror: 
Ontario Teachers’ Pensions Plan

Advised the shareholders of Camelot – Cadbury, De La Rue, Fujitsu, Royal Mail and Thales – on the sale of their shareholdings in Camelot, the operator of the UK National Lottery, to Ontario Teachers’ Pensions Plan

07-Feb-11
$548 million
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Target: 

Wesco Financial Corporation

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Acquiror: 
Berkshire Hathaway Inc.

Advised the Special Committee of Wesco Financial Corporation in connection with Berkshire Hathaway Inc.'s proposal to acquire the remaining 19.9% of the shares of Wesco’s common stock that it does not presently own

19-Feb-19
$324 million
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Target: 

Aritzia Inc.

flag not available

Advised the Special Committee of Aritzia, an innovative designer and retailer of fashion brands, on the secondary offering and concurrent repurchase of shares held by Berkshire Partners

03-Sep-14
$300 million
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Target: 

Voya Financial, Inc.

flag not available

Advised the Independent Committee of the Board of Directors of Voya Financial, Inc. in connection with Voya Financial, Inc.’s repurchase of 7.7mm shares (aggregate repurchase of $300mm) from ING Groep N.V.

25-Mar-14
$250 million
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Target: 

ING US, Inc.

Advised the Independent Committee of the Board of Directors of ING US, Inc. in connection with ING U.S., Inc’s repurchase of 7.2mm shares (aggregate repurchase of $250mm) from ING Groep N.V.

12-Nov-14
$175 million
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Target: 

Voya Financial, Inc.

United States flag
Acquiror: 
Voya Financial, Inc.

Advised the Independent Committee of the Board of Directors of Voya Financial, Inc. in connection with Voya Financial, Inc.’s repurchase of 4.5mm shares (aggregate repurchase of $175mm) from ING Groep N.V.

27-Mar-02
$168 million
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Target: 

Morton’s Restaurant Group Inc.

flag not available
Acquiror: 
Castle Harlan, Inc.

Advised the Special Committee of Morton’s on sale of the Company.

27-Aug-09
$144 million
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Target: 

NYFIX, Inc.

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Acquiror: 
NYSE Euronext

Advised the Special Committee of the Board of Directors of NYFIX, Inc., a provider of electronic trading solutions, on its sale to NYSE Euronext

08-Jan-10
$134 million
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Target: 

Minerva plc

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Acquiror: 
KiFin Limited

Advised Minerva plc, a UK real estate development company, on its successful defence following an unsolicited offer from KiFin Limited, a company that makes investments for the benefit of Mr Nathan Kirsh

01-Apr-13
$NA
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Target: 

Morgans Hotel Group

Advised the Special Transaction Committee of the Board of Morgans Hotel Group on the transfer of its ownership interests in Delano South Beach and The Light Group to The Yucaipa Companies in exchange for the cancellation of certain securities held by Yucaipa (debt, preferred stock and warrants) together with a $100 million rights offering backstopped by Yucaipa

10-Aug-06
$NA
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Target: 

Forest City Ratner

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Acquiror: 
Forest City Enterprises Inc.

Advised Forest City Enterprises, Inc. on the restructuring of its business relationship with its New York City affiliate Forest City Ratner

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