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United Kingdom : Freshfields advises Breeze-Eastern on its proposed sale to TransDigm Group
Publish Date : 25-Nov-2015
We advised Breeze-Eastern Corporation (NYSE MKT: BZC), a leading global designer and manufacturer of high performance lifting and pulling devices for military and civilian aircraft, on its announced sale to TransDigm Group Incorporated (NYSE: TDG), a leading global designer, producer and supplier of highly engineered aircraft components for commercial and military aircraft, in a transaction valued at approximately $206m.
Under the terms of the agreement, a subsidiary of TransDigm will commence a tender offer to acquire all of the outstanding shares of Breeze-Eastern common stock for $19.61 per share in cash. Following the purchase of shares through the tender offer, TransDigm will complete the transaction by acquiring all remaining shares not acquired in the offer through a merger at the same price as the tender offer. As contemplated by the merger agreement, Breeze-Eastern will solicit superior proposals from third parties during the next 40 days.
The Freshfields team was led by corporate partners Mitchell Presser and Doug Bacon, along with corporate senior associate Justin Rosenberg and corporate associates Drew Elphick and Camille Ranadive. Executive compensation advice was provided by partner Howard Klein and associate Alec Nealon. Tax advice was provided by partner Claude Stansbury and associate David Mitchell. Partners Paul Yde and Frank Rhling, counsel Mary Lehner and associate Ilana Kattan advised on antitrust matters. Senior associate Bryan Brooks advised on IP aspects of the deal, and senior associate Stephanie Brown Cripps and associate Howard Yuan advised on FCPA matters.
