Bakers steers MCG through merger

Baker & McKenzie has advised Management Consulting Group (MCG) on its $125m (£62.02m) proposed merger with global management consulting firm Kurt Salmon Associates.

The latter has turned to Paul Hastings Janofsky & Walker for advice.

The Bakers team was led by London corporate partner Tim Sheddick and his Chicago-based counterpart Edward West, with banking and finance advice coming from partner Ian Jack.

MCG has conditionally agreed to buy the entire issued share capital of Kurt Salmon and will fund the acquisition with $75m (£37.21m) in cash and the issue of approximately 48 million new shares.

The cash component is being financed by an E81.4m (£57.05m) and a $111m (£55.07) multi-currency debt facility arranged by Barclays Capital, HSBC Bank and Lloyds TSB Corporate Markets.

The lenders were advised by a team from DLA Piper.