Allen & Overy has secured its first M&A instruction from BSkyB, on its recommended takeover of the pan-European broadband network company, Easynet Group.
Under the terms of the cash offer, £1.75 will be offered for every Easynet share, valuing the company at almost £211m.
London-based corporate partner Gary McLean said although the deal was the first significant transaction undertaken for BSkyB, the firm had worked for BSkyB in the past.
“We’ve done some work for BSkyB before and we’ve also done some work for News Corp, which put us in a nice position to act for BSkyB on this occasion,” he said. “And from all of the media reports of late, it looks as though (BSkyB) is going to be active in the future, so hopefully they will look to us for legal advice.”
McLean and Richard Hough led the A&O team, working alongside BSkyB general counsel James Conyers and Anil Jhingan. Skadden Arps Slate Meagher & Flom advised Easynet Group.