Recent Transactions

16-Nov-07
$203 million
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Target: 

Oakland Mall LLC

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Acquiror: 
California State Teachers' Retirement System and Urban Retail Properties

Advised the Kogan Family on the sale of Oakland Mall, a regional shopping mall in Troy, Michigan anchored by JC Penney, Sears and Macy's

05-Nov-07
$3.4 billion
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Target: 

American Financial Realty Trust

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Acquiror: 
Gramercy Capital Corp.

Advised American Financial Realty Trust, a real estate investment trust that acquires properties from and leases properties to regulated financial institutions, on its sale to Gramercy Capital Corp., a commercial real estate specialty finance company

13-Aug-07
$185 million
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Target: 

Central Lewmar LLC

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Acquiror: 
International Paper Co.

Advised Central Lewmar, a leading distributor of paper and packaging in the United States, on its sale to International Paper’s xpedx distribution business

04-Jun-07
$2.9 billion
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Target: 

Slough Estates USA (subsidiary of Slough Estates plc)

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Acquiror: 
Health Care Property Investors

Provided oversight of the process and an informal second opinion to the senior management of Slough Estates plc

22-May-07
$6.5 billion
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Target: 

Crescent Real Estate Equities Company

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Acquiror: 
Morgan Stanley Real Estate

Advised Crescent Real Estate Equities Company, a REIT holding a diversified portfolio of office properties, hotels and resorts and luxury residential developments on its sale to Morgan Stanley Real Estate

30-Mar-07
$1.2 billion
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Target: 

Initial Electronic Security Group

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Acquiror: 
United Technologies Corp.

(the electronic security division of Rentokil Initial plc)
Advised Rentokil Initial on the sale of its electronic security division to United Technologies Corp.

19-Mar-07
$5.5 billion
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Target: 

The ServiceMaster Company

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Acquiror: 
Clayton, Dubilier & Rice

Provided fairness opinion to the Board of Directors of The ServiceMaster Company, a diversified consumer services business whose brands include Terminix, TruGreen and American Home Shield, in connection with its sale to private equity firm Clayton, Dubilier & Rice

21-Dec-06
$3.3 billion
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Target: 

Raytheon Aircraft Company

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Acquiror: 
Goldman Sachs Capital Partners / Onex Partners

Provided advisory services and fairness opinion to the board of directors of Raytheon Company, a market leader in the aerospace and defense industry, on the sale of its Raytheon Aircraft division, which offers aircrafts and services and the renowned Hawker and Beechcraft brand names

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

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

20-Feb-06
$254 million
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Target: 

Textile Effects

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Acquiror: 
Huntsman Corporation

(division of Ciba Specialty Chemicals AG)
Advised Ciba Specialty Chemicals AG on the sale of its global Textile Effects business

06-Jan-06
$164 million
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Target: 

Acadia Realty Trust

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Acquiror: 
GDC Properties

(selected assets) Advised GDC Properties on its acquisition of a 77.8% interest in a one million square foot Wilmington, Delaware shopping center portfolio previously held by institutional investors in Acadia Realty Trust Fund I

28-Nov-05
$103 million
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Target: 

Akzo Nobel N.V.

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Acquiror: 
Hexion Specialty Chemicals Inc.

(Ink and Adhesive Resins business) Advised Akzo Nobel N.V., a global leader in coatings, chemicals and healthcare on the sale of its Ink and Adhesive Resins business to Hexion Specialty Chemicals Inc

08-Oct-05
$NA
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Target: 

General Motors

Advised General Motors in connection with the Chapter 11 of Delphi, its largest supplier and former subsidiary

08-Aug-05
$2.7 billion
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Target: 

Maytag Corporation

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Acquiror: 
Whirlpool Corporation

Advised Whirlpool Corporation, one of the world’s leading manufacturers of major home appliances, on its acquisition of Maytag Corporation

19-May-05
$7.2 billion+
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Target: 

US Airways Group

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Acquiror: 
America West Holdings

Advised America West Holdings in connection with its merger with US Airways Group. (+Transaction value represents enterprise value of combined entity, including capitalized operating leases of $4.8 billion)

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

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

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.

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

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

11-Oct-01
$1.3 billion
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Target: 

Regal Cinemas, Inc.

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Acquiror: 
The Anschutz Corporation

Advised Regal Cinemas, the largest theatre chain in the United States, on its prepackaged bankruptcy plan and acquisition by The Anschutz Corporation

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

10-Aug-00
$750 million
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Target: 

Radisson Group, Inc.

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Acquiror: 
Olympus Real Estate Fund (Hicks, Muse)

(subsidiary of Carlson Companies, Inc.)
Advised Carlson Companies, Inc., the owner of the Radisson Hotels brand, on the formation of a $750 million Radisson Hotel acquisition fund, Radisson-Olympus Capital Partners.

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