Last week was one of fancy footwork in the global M&A market, with a couple of mega-deals from across the pond hogging the limelight.
First up, Kinder Morgan . The energy giant announced its intention to gobble up its subsidiaries for $44bn in cash and stock and $27bn in debt. The idea is that Kinder Morgan, North America’s largest midstream energy company, will make substantial savings after tidying up its structure.
Meanwhile, Skadden Arps Slate Meagher & Flom was busy advising all-American Coca-Cola on its $2.15bn asset swap with energy drink business Monster. Under the terms of the deal, Coca-Cola will scoop up Monster’s non-energy drinks businesses, while Monster will expand its energy drinks empire to include the likes of Coke’s NOS and Burn.
Also on TheLawyer.com:
- Berwin Leighton Paisner and Taylor Wessing advised on the £97m sale of Heron Plaza to Singaporean UOL Group
- Withers advised on the establishment of new industry body Innovate Finance , which supports the growth of cutting-edge technologies in the UK’s financial sector
- Former King & Wood Mallesons partners Tony O’Malley and Tim Blue have joined accounting giant PricewaterhouseCoopers to launch its Aussie legal services arm