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The magic circle proved its mettle on transatlantic aerospace deals, with Clifford Chance landing Meggitt’s $1.1bn (£571m) purchase of K&F Industries.
Corporate partner Adam Signy led the team at Clifford Chance for Meggitt, the UK aerospace company.
Under the terms of its offer, which it is financing through the exchange of shares as well as debt, Meggitt is assuming $700m (£363.5m) of American company K&F’s debt. Rothschild is advising Meggitt on the deal, with Merrill Lynch advising on the rights issue.
K&F instructed US firm Gibson Dunn & Crutcher, its longstanding counsel that it also used on its $315m (£163.6m) IPO in 2005.
The purchase follows January’s $4.8bn (£2.5bn) purchase of Smiths aerospace group by General Electric (GE). On that deal, Allen & Overy advised Smiths, with Slaughter and May advising GE (see The Lawyer, 22 January).