Recent Transactions

02-Jul-08
$NA
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Target: 

NewSmith Capital

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Acquiror: 
UniCredit SpA

Advised NewSmith Capital, an independent investment management group, on a strategic agreement with UniCredit whereby UniCredit will acquire NewSmith’s Financial Products credit advisory business, assume a 5% stake in NewSmith Capital and become an investor in NewSmith funds

21-May-08
$85 million
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Target: 

Dobbies Garden Centres plc

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Acquiror: 
Tesco plc

Advised Tesco plc in relation to its public cash offer to acquire the 35% of Dobbies Garden Centres plc which it does not already own

14-Apr-08
$143 million
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Target: 

Clayton Holdings, Inc.

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Acquiror: 
Greenfield Partners

Advised Greenfield Partners on its acquisition of Clayton Holdings, a leading due diligence and surveillance provider

26-Nov-07
$11.4 billion
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Target: 

Kelda Group plc

U.S., Singapore, U.K. flags
Acquiror: 
Citi Infrastructure Investors, GIC Special Investments, Infracapital Partners and HSBC Bank

Advised Kelda Group plc, a leading provider of water and waste water services in the UK, on a recommended cash offer from a consortium of international infrastructure investors

07-Nov-07
$652 million
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Target: 

Philadelphia Stock Exchange, Inc.

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Acquiror: 
The NASDAQ Stock Market, Inc.

Advised Philadelphia Stock Exchange, Inc, the third largest options market in the US and the nation's oldest stock exchange, on its sale to the NASDAQ Stock Market, Inc.

02-Oct-07
$4.6 billion
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Target: 

Nikko Cordial Corporation

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Acquiror: 
Citigroup, Inc.

Advised Nikko Cordial, one of Japan’s largest securities firms, on its share exchange with Citigroup Inc., which resulted in Citigroup’s acquisition of the remaining 32% of Nikko Cordial that it did not already own

05-Jul-07
$630 million
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Target: 

ALM Media Group Holdings, Inc.

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Acquiror: 
Incisive Media Ltd. (portfolio company of Apax Partners)

Advised Incisive Media, a portfolio company of Apax Partners, on the acquisition of ALM Media, a leading integrated media company focused on the legal and real estate sectors and the largest provider of B2B information to the US legal market

25-Jun-07
$8.1 billion
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Target: 

Energy East Corporation

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Acquiror: 
Iberdrola SA

Advised Energy East Corporation, a super-regional electric and gas utility with nearly 3 million regulated customers in the northeast US, on its sale to Iberdrola SA

08-Jun-07
$448 million
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Target: 

Dobbies Garden Centres plc

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Acquiror: 
Tesco plc

Acted as financial adviser to Tesco plc on its recommended acquisition of Dobbies Garden Centres plc, one of the UK's largest garden centre retailers

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

29-May-07
$99.1 billion
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Target: 

ABN AMRO Holding NV

U.K., Spain, Belgium flags
Acquiror: 
Fortis SA/NV, The Royal Bank of Scotland Group plc, Banco Santander Central Hispano, SA

Advised Fortis on an offer by Fortis, RBS and Santander for ABN AMRO

18-Apr-07
$950 million
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Target: 

Trans Mountain Pipeline System

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Acquiror: 
Kinder Morgan Energy Partners, L.P.

Advised Independent Committee of the Board of Kinder Morgan Energy Partners on the acquisition of Trans Mountain Pipeline System, an ~800 mile pipeline which transports crude oil and refined products from Alberta to British Columbia and Washington State

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

29-Jan-07
$900 million
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Target: 

Eggborough CTA Bonds

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Acquiror: 
Ampere plc (a newly formed company)

Advised an ad hoc committee of bondholders representing over 70% of the debt in Eggborough Power Limited, a UK power station, on (a) the formation of a new company for the purpose of acquiring and holding a controlling interest in the Eggborough CTA Bonds and (b) an associated US$600m financing. The Eggborough CTA Bonds include an option to purchase Eggborough power station in March 2010

25-Jan-07
$3.3 billion
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Target: 

Cardinal Health, Inc., Pharmaceutical Technologies and Services division

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Acquiror: 
The Blackstone Group

Provided fairness opinion to the board of directors of Cardinal Health, Inc., a global company serving the health-care industry, on the sale of its Pharmaceutical Technologies and Services business, which provides outsourced services and proprietary technologies to the global pharmaceutical and biotechnology industries

22-Dec-06
$115 million
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Target: 

The 401(K) Company (a subsidiary of Nationwide Financial)

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Acquiror: 
The Charles Schwab Corporation

Advised The Charles Schwab Corporation on its acquisition of The 401(K) Company from Nationwide Financial. The 401(K) Company is a leading provider of defined contribution retirement administration services

19-Dec-06
$270 million
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Target: 

Brion Technologies, Inc.

Netherlands flag
Acquiror: 
ASML Holding N.V.

Advised ASML Holding N.V., a leading provider of lithography systems for the semiconductor industry, on its acquisition of Brion Technologies, Inc.

06-Nov-06
$4.2 billion
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Target: 

Kos Pharmaceuticals, Inc.

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Acquiror: 
Abbott Laboratories

Advised Kos Pharmaceuticals, Inc., a specialty pharmaceutical provider of cardiovascular and respiratory drugs, on its sale to Abbott Laboratories

11-Oct-06
$NA
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Target: 

Visa USA

Advised Visa USA in its announced plans to merge with Visa Canada and Visa International to form Visa Inc., a new public global corporation

21-Sep-06
$385 million
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Target: 

Incisive Media plc

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Acquiror: 
Apax Partners Worldwide LLP

Advised the Independent Directors of Incisive Media plc, a B2B media publisher, on a recommended MBO approach backed by Apax

15-Sep-06
$4.1 billion
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Target: 

LS Power Group

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Acquiror: 
Dynegy, Inc.

Advised Dynegy, Inc., a merchant power generator, on its acquisition of LS Power Group's power generation portfolio

08-Aug-06
$565 million
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Target: 

Emdeon Practice Services, Inc.

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Acquiror: 
The Sage Group plc

Advised The Sage Group plc, a leading international supplier of accounting and business management software solutions

04-Aug-06
$290 million
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Target: 

Republic Companies Group, Inc.

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Acquiror: 
Delek Capital Ltd.

Advised Republic Companies Group, Inc., a regional provider of personal and commercial property and casualty insurance products

30-Jun-06
$NA
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Target: 

Topaz Power Partners

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Acquiror: 
Carlyle / Riverstone

(portfolio of seven power plants)
Advised Topaz Power Partners (a joint venture of Sempra Energy and Carlyle / Riverstone) on the sale of a portfolio of seven power plants to an affiliate of Carlyle / Riverstone

19-May-06
$1.4 billion
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Target: 

London Stock Exchange Group plc

United States flag
Acquiror: 
The Nasdaq Stock Market, Inc.

(25.1% stake)
Advised The Nasdaq Stock Market, Inc., the largest electronic equity securities market in the United States, on the acquisition of a 25.1% stake in London Stock Exchange plc

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